Historic 50,000 Sq. Ft. Beverly House Drops to $48M in Beverly Hills, CA

Historic 50,000 Sq. Ft. Beverly House Drops to $48M in Beverly Hills, CA

$48,000,000 | Built 1926 | 50,000 Sq. Ft. | 19 Beds | 29 Baths | 3.53 Acres
1011 N Beverly Drive, Beverly Hills, California, United States, 90210

Built in 1926 by Gordon Kaufmann for banking mogul Milton Getz and former estate of William Randolph Hearst and Marion Davies, the iconic Beverly House has been reduced to $48 million after returning to the market in April for $89.75 million. According to the listing, the historic property has been listed by order of the U.S. Bankruptcy Court and the sale is subject to court confirmation & overbid. The listing states, “Chapter 7 Bankruptcy trustee seeks to sell the property subject to overbid on September 14th, 2021 at 11:00 AM, Courtroom 1368, 255 E. Temple Street, Los Angeles, California. Bid must be in writing and received by trustee or counsel on or before 5:00 pm, September 10, 2021. The court shall direct and preside over the auction at the hearing. Any overbid after the baseline bid shall be in increments of no less than $100,000. The bid shall provide evidence of sufficient funds to complete the transaction.” Mansion Global revealed, “A bankruptcy court recently appointed an administrator to sell the property after being petitioned to do so by Fortress Investment Group, which has said it is owed more than $52.3 million in unpaid loans and interest.” The property is owned by attorney Leonard Ross. From hosting John and Jacqueline Kennedy’s honeymoon to serving as a filming location for movies like The Godfather and The Bodyguard, this home is nothing short of spectacular. 

 

As seen in “The Godfather”. CBS/Getty Images via Mansion Global

According to Architectural Digest, this 50,000 square foot home offers 19 bedrooms, 29 bathrooms, and sits upon 3.5 acres. As if that wasn’t enough, this home also boasts a renowned H-form architecture, two-storey library, 22-foot-tall hand-painted ceiling, and even a billiards room with an opulent ceiling and fireplace both from the Hearst Castle. In 2007, the home was listed at a whopping $165 million and in 2010 was relisted for just $95 million. Six years later the home entered the market at a staggering $195 million and still could not find a buyer. In 2018, the estate dropped to $135 million and recently dropped to $89.75 million. Despite its prominence, this home is also very private and offers “four wrought-iron security gates that block off an 800-foot driveway” (Architectural Digest). The Beverly House is on the market for $48 million with Gary Gold of Hilton & Hyland. Photography and information found on agent’s listing.

Listing details: The Hearst Estate was built in 1926 and is a prized property for collectors of fine architecture. As the former residence of newspaper magnate William Randolph Hearst, actress Marion Davies, and even used as a honeymoon hideaway for The Kennedys, The Hearst Estate is anchored in American Legend and is a one-of-a-kind home. Set at the end of one of the city’s longest private driveway, this stunning estate pays tribute to its architect, Gordon Kaufman. The main house has 8 bedrooms and 15 bathrooms and enjoys a seemingly endless list of opulent living spaces. A formal living room is set under a soaring 22 ft arched hand-painted ceiling, a historic 2-story wood-panelled library, plus a billiards room w/fireplace reminiscent of Hearst Castle, an art-deco nightclub, 2 projection/screening rooms, grand state public rooms, and entertaining areas that can accommodate 1,000 guests. Complimenting the main house, the ancillary improvements include 2 staff/guest apartments, a pool house, a tennis pavilion, and a two-story 5 bedroom gatehouse. All this is set on 3.5 acres of private grounds with sun-soaked terraces, lawns, waterfalls & Olympic sized pool. LISTED BY ORDER OF U.S. BANKRUPTCY COURT. SALE IS SUBJECT TO COURT CONFIRMATION & OVERBID.





















Facebook Comments