HOME SALES

Owner cuts price of Beverly Hills estate to US$149m

Mediterranean-style mansion with 35,000 sq ft of living space and private vineyard had been the most expensive home listed for sale in US

PUBLISHED : Tuesday, 15 September, 2015, 10:54pm
UPDATED : Tuesday, 15 September, 2015, 10:54pm
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The asking price for a gated estate in Beverly Hills that has topped the price chart of publicly listed homes for sale nationwide at US$195 million since last year has been lowered to US$149 million.

Real estate entrepreneur Jeff Greene, who owns properties in Florida, New York and California, put his Palazzo di Amore on the market in November last year. A few months later, he also offered it for lease at US$475,000 a month.

Greene bought the property in 2007 for US$35 million and spent eight years expanding the Mediterranean-style mansion.

The main residence has more than 35,000 sq ft of living space for a total of about 53,000 sq ft, including an entertainment complex that Greene added and a detached guesthouse.

More recently, about US$1 million was put towards a grand entry complete with a new gate, turnabout and guard station, as well as a lounge area connecting the tennis court to other recreational facilities.

Other features include a floating-style glass-floor walkway set over pools that leads to the entertainment complex, which can seat as many as 250 dinner guests. The 15,000 square foot complex also has a 50-seat cinema, a bowling alley and a disco/ballroom with a revolving floor, a DJ booth and a laser-light system.

There are 12 bedrooms and 23 bathrooms in all.

The estate label, Beverly Hills Vineyards, produces 400 to 500 cases of wine a year.

There is one wine cellar that can store 3,000 bottles and another that can hold about 10,000 bottles.

A 128-foot reflecting pool and fountain, a waterfall, a swimming pool, a spa and a barbecue area make up the grounds, while a two-acre organic farm is being added.

Musician David Stewart, the former frontman of Eurythmics, has listed his Toluca Lake home for sale at US$4.25 million.

The Spanish-style house was built in 1929 and was home to Toluca Lake's original architect Park French, who designed homes for such movie stars as Mary Pickford, Douglas Fairbanks and Norma Talmadge.

Period details include original stained-glass windows, wood floors and a wood-burning fireplace in the living room.

The home includes living, family and dining rooms, a breakfast room, library, soundproof media room, a steam room, four bedrooms and four bathrooms in 5,426 sq ft of space. The grounds feature a heated pool, an organic herb garden, a heated dining terrace and a covered exercise deck. A boat mooring and private access to the lake are included.

Singer-songwriter-guitarist-producer Stewart, 62, has also worked with such artists as Bono, Gwen Stefani, Tom Petty, Katy Perry, Stevie Nicks, Joss Stone and Mick Jagger.

The property last changed hands a decade ago for US$3.815 million.

Andrei Kirilenko, the former NBA All-Star and newly elected president of the Russian Basketball Federation, has bought a contemporary-style compound in Bel-Air for US$5.55 million.

The walled and gated home, designed for indoor-outdoor entertaining, features sliding glass walls, multiple entertaining decks and swimming pool.

Within the 4,350 sq ft of space are open plan living areas with raised ceilings, a centre-island kitchen, an office and a master suite with a large soaking tub. A lower-level bonus area has a large wine cellar.

Floor-to-ceiling walls of glass centre on city and ocean views.

A total of five bedrooms and five bathrooms includes the four-bedroom main house and a guesthouse with a gym. Two detached garages, a motor court and a flat grass yard are included in the grounds.

The house came on the market in the middle of August for US$5.85 million and was under contract in less than a week.

Kirilenko, 34, spent 13 seasons in the NBA for the Utah Jazz, Minnesota Timberwolves and Brooklyn Nets, making one All-Star team (2014) and one All-Defensive first team (2006).

The forward retired in June and in August was elected president of the Russian Basketball Federation, which was suspended by international basketball governing body FIBA this year.

Actress-singer Nikki Reed, who played a vampire in the Twilight films, has sold a compound in Hollywood Hills for US$1.31 million.

The 1920s Spanish-style villa, guesthouse and swimming pool sit on a knoll in the Lake Hollywood area. Views from the house and roof patio take in the cityscape and mountains.

Fronted by a three-car garage, the multiple levels feature a living room, a dining area, an updated kitchen, a laundry room, four bedrooms and three bathrooms within 2,284 sq ft of space.

A broad deck surrounds an irregularly shaped swimming pool with a waterfall spa.

Reed, 27, appears in the current television series Sleepy Hollow and was in The O.C. (2006). She starred in and co-wrote Thirteen (2003). The film was based on writings from her teenage years.

The property previously changed hands in 2011 for US$872,000.