The Hearst Estate in Beverly Hills Gets a $19.8 Million Price Cut

Once asking as much as $195 million, the property is now selling for $69.95 million

A bankruptcy court has slashed another $19.8 million off the price of the historic Beverly Hills, California, estate once owned by newspaper tycoon William Randolph Hearst and is now asking $69.95 million.

Once asking as much as $195 million, the property was relisted in April for $89.95 million before its latest discount.

The property’s longtime owner, attorney Leonard Ross, had been trying to sell the property at various price points since 2007. In 2019, he placed the limited-liability company that owns the property into chapter 11 bankruptcy, The Wall Street Journal reported at the time.

“The bankruptcy court was very motivated to sell the property,” Anthony Marguleas of Amalfi Estates, told Mansion Global. He is handling the sale with Gary Gold of Hilton & Hyland, as well as Zizi Pak and John Gould of Rodeo Realty. “We expect the price reduction will produce several offers in the next few weeks.”

https://www.mansionglobal.com/articles/the-hearst-estate-in-beverly-hills-gets-a-19-8-million-price-cut-228432

I was browsing the LA Times' real estate listings today and saw this one advertised on a couple of pages. I was also surprised at just how many 7-8 figure homes there are for sale in the area, along with several $100M+ properties. There's a lot of people with a lot of money around.