Real Estate Blog - Perseverance Pays Off - Holmby Hills House Sells for $13,200,000

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Perseverance Pays Off - Holmby Hills House Sells for $13,200,000

Perseverance Pays Off - Holmby Hills House Sells for $13,200,000

Originally listed at $27,500,000 this 12,000 sq ft 9-Bed 9-Bath has finally sold in Holmby Hills (in the Bel Air/Beverly Hills area of Los Angeles) for $13,200,000 - 50% of it's original Asking Price! The MLS describes the property as a "Grand 1930's Hollywood Georgian, completely remodeled." The house includes a hidden wine-cellar, screening room and sauna.

The property was originally listed in May 2008 and was on the market for 429 days before it finally sold ..... proving that Perseverance Pays Off, give or take a few million in the pricing.

(Listed by Stephen Resnick of Westside Estate Agency and Sold by Eric Hassan of Coldwell Banker Beverly Hills)

Posted by Stewart Penn - Los Angeles Condo Specialist on 10/30/2009 10:08 AM

Comments (7)

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Originally posted at: LA Connection Property Blog: Perseverance Pays Off - Holmby Hills House Sells for $13,200,000

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7 Comments on Perseverance Pays Off - Holmby Hills House Sells for $13,200,000

OCT

That is a spectacular home. Nice sale.

Stewart, what an incredible house!! I hope perserverance does pay off. My office in Palm Springs has had the Suzanne Somers house for about a 1.5 years, now listed at $12.9 million. I would love to see the word "SOLD" next to the address on our listing board!! Make it a great day.

Harold - I bogged about Suzanne Somers' house a few months ago.

What do you think the house is worth? (again, give or take a few million)

Stewart, I think it's worth about 9 million. The home sits on over 65 acres above the Mesa area of Palm Springs. The original list price was $27 million. There is a buyer for every home.

Hi Stewart... my question is, if the home had been priced properly to start with, how much would it have sold for in May 2008 and how much was actually lost because it sat around and got stale on the market?

Good point Mr. Shatsky .... good point!

NOV

Now that is a nice commission check!!! Beautiful looking home!

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