Frank J. Biondi Jr., senior managing director of investment firm WaterView Advisors, board director at the Madison Square Garden Co. and former chief executive of Viacom and of Universal Studios, listed his Brentwood, Los Angeles, compound Monday for $23.9 million.

Built in 1968 by famed Southern California architect Wallace Neff, the original owners wanted it to look like the 14-room, French Provincial style house that Neff had built in 1938 for actress Joan Bennett in Holmby Hills, said listing broker Linda May of Hilton & Hyland.

Mr. Biondi and his wife Carol bought the house 21 years ago from Kathleen Kennedy and Frank Marshall—the husband-and-wife duo who co-founded Amblin Entertainment with Steven Spielberg—Ms. May said. It’s not known how much they paid.

They also acquired an adjacent parcel and added to the property’s “lineage of famous architects,” Ms. May said, by drafting limestone-loving architect Robert A.M. Stern, famed for his East Coast buildings like 15 Central Park West and 220 Central Park South, to both renovate the house and add a two-story guest house, a screening room and a championship clay tennis court to the parcel.

Spanning 1.6 acres, the estate has four bedrooms, seven full and two half baths, vaulted wood-framed ceilings, park-like gardens, a pool house with pool and spa, a gym, a guard house, high-tech security systems and parking for 20 cars.

Mr. Biondi, 72, could not be reached for comment, but is selling “now that the children are all grown and out of the house,” Ms. May said.