After $25M price cut, LA megamansion still ranks among most expensive in U.S.

Posted · Add Comment
0 Flares Twitter 0 Facebook 0 Google+ 0 Filament.io Made with Flare More Info'> 0 Flares ×

One of the highest-priced residences in the nation is now $25 million closer to affordable.

The Manor, a Holmby Hills megamansion built for Aaron and Candy Spelling, hit the market in 2016 with a $200 million asking price. Owner Petra Ecclestone is now seeking a more modest $175 million sum for the enormous home, which she purchased in 2011 and extensively remodeled.

The 56,000-square-foot residence is slightly larger than the White House and sits on 5 acres in one of the most exclusive neighborhoods in the LA area. The Spellings commissioned the home in 1988, at the height of Aaron Spelling’s success as a TV producer. The couple demolished a more humble mansion once owned by Bing Crosby to make space for the 123-room estate.

Formula One heiress Ecclestone paid $85 million for the house seven years ago and was rumored to have turned down $150 million for the place in 2015. If it sells for anywhere close to that price point, the mansion will shatter records for the highest-priced sale in Los Angeles history.

No home in the county has sold for more than the $100 million commanded by both the Playboy Mansion and a spec house that Detroit Pistons owner Tom Gores bought in 2016.

The Manor has competition. A Bel Air spec house known as “Billionaire” is now on the market for $188 million—after a $62 million price cut in April. Either house could become the most expensive sold in the United States. The title is currently held by a Hamptons estate that fetched nearly $150 million in 2014.

The Manor

594 South Mapleton Drive, , CA 90024

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 
 
DMS
0 Flares Twitter 0 Facebook 0 Google+ 0 Filament.io 0 Flares ×