We've seen price reductions across the board, and this listing I came across today proves to be no exception.
"Le Belvedere" - 630 Nimes Road in Bel Air (Los Angeles) was listed in February 2009 for $85 Million.
It was then reduced by $13 Million to $72 Million in August 2009.
That's a 15% price reduction!
This colossal all-steel mansion is 48,000 sq ft in size and sits on 2.2 acres. The grand residence includes 10 Bedrooms, 14 Bathrooms, 19 fireplaces, a ballroom that can seat 200 guests, a 5000 bottle wine cellar, a gymnasium and a professional screening room.
The property is surrounded by a 1000-foot long by 36-feet high wall, has a swimming pool and swan pond, but does not have a tennis court. There is secure parking for 20 cars.
Current public records indicate property taxes in excess of $1 Million per year!
What I found interesting was the price cut from $85 to $72 Million;
Wouldn't the $72 Million buyer be the very same buyer who would consider an $85 Million property?
Le Belvedere is listed by Stacy Gottula and Joyce Rey of Coldwell Banker Previews International.
Photos courtesy of The MLS.
Comments(14)