If you recall our Rich are Becoming Richer blog where we highlighted the growing luxury trend in the retail market, then this will seem very familiar. Monday, a mansion was put on the market for the asking price of $165 million. Brokers expect this property to break the record as the most expensive house in the U.S, as it might sell for more than $100 million which has never been done in the states.
The property named, The Beverly House, belonged to newspaper tycoon William Randolph Hearst and his wife Marion Davies.
Located north on Sunset Boulevard, in Beverly Hills, The Mansion sits on 6.5 acres, contains 29 bedrooms, three swimming pools, a state-of-the-art entertainment center and even a disco! But for $165,000,000 you can rest assured that there’s more! such as four additional homes, an apartment, and a security staff’s cottage. That’s a total of six different residences, that some would even call a compound!
The compound was built in 1927, designed by celebrated architect, Gordon Kauffman. It was originally built for banker Milton Getz. Hearst bought the property in 1947 for about $120 million, then the current owner, attorney Leonard M. Ross bought it in 1976 and renovated the structures, fountains and gardens.
The estate is somewhat of a landmark itself, in 1953 John F. Kennedy and Jackie O spent part of their honeymoon there, then later the mansion became Kennedy’s West Coast Headquarters for his presidential campaign.
The estate was also used in famed movies as The Godfather and the Bodyguard.
In 1977 the house was briefly put on the market for an unbelievable $25 million but was quickly taken off the market without being sold.
As mentioned earlier, the rich are getting richer and so are the residential properties they are buying. Currently there are outstanding listings such as Prince Bandar’s compound in Aspen for $135 million, Fleur de Lys also in Beverly Hills for $125 million and Trump’s offering in Palm Beach for $125 million. And let’s not forget the $155 million mansion being built in Montana.
Via L.A Times
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July 11, 2007Estate of the Day: Montauk
