Barbara Davis, previous member of the Forbes 400 and widow of Los Angeles oil and entertainment tycoon Marvin Davis, just listed her Los Angeles apartment with an asking price of $1,885,000. Ms. Davis purchased the condo in May 2006 for $2,295,000, meaning she will face a significant loss of $410,000, assuming that the sale runs full price.
The condo resides in the Wilshire Corridor building, which offers its residents the ease and convenience of condo living in a city where high-maintenance with services such as doormen, valet service, 24-hour concierge and fitness facilities. The apartment features 2 bedrooms, 2.5 baths, a black and white marble floored foyer, a main living space with floor to ceiling windows, built-in bookshelves and glass doors to a balcony with panoramic views.
The unit measures 2,257 square feet and includes 2 bedrooms and 2.5 bathrooms—a shack in comparison to the 25,437 square foot property Davis previously owned in Beverly Hills. This mansion, sitting on 10-plus acres of land, was listed in November 2003 at $70 million until the price was reduced in June 2004 to $59.5 million. It was sold in early 2005 for $39,352,500 to buyers Susan and Eric L. Smidt, the president of Harbor Freight Tools USA Inc.