Hollywood Hills mansion relisted for $99 million after price cut
The 22,000-square-foot property was originally listed for $125 million by its developers.
A megamansion located at 7661 Curson Terrace in Los Angeles has been relisted for $99 million in mid-October, according to The Times of India reporting on The Real Deal.
The new asking price represents a $26 million reduction from the $125 million initially sought by developers. Branden Williams and Rayni Williams of Beverly Hills Estates, who developed the property with Scott Mitchell Studio, said the price adjustment reflects the realities of the ultra-high end luxury real estate market.
The land for the residence was reportedly purchased from actor Jeremy Renner for $8 million. The completed 22,000-square-foot home features seven bedrooms, 12 bathrooms, a 100-foot infinity pool, and a 4,000-square-foot motor court.
The property sits on more than an acre of land near the Hollywood Bowl and the Chateau Marmont. It includes a screening room, a billiards lounge, and a principal suite with a private study.
The listing on Savills describes the villa as one of the most ambitious private residences built in the Hollywood Hills, noting it was completed after a decade-long construction process. The developers claim construction costs exceeded $5,000 per square foot, excluding the land.
A sale at the current $99 million price would be subject to the Los Angeles Measure ULA mansion tax. The city charges 5.5 per cent on transactions exceeding $10.9 million.