Michael Jackson's Final Home Gets Big Price Cut

As I move through the estates category archives seeing where things have ended up this year I'm finding some big price cuts including one for the Los Angeles mansion where Michael Jackson was living when he died in June 2009. The Richard-Landry-designed home on North Carolwood Drive in the elite area of Holmby Hills first hit the market in August when it was listed for $28.995 million with Jerry Jolton of Coldwell Banker Beverly Hills South. It is now listed at $23.5 million.

At the time of his death Jackson was renting the seven-bedroom home for $100,000 a month. The French-chateau-styled mansion is on a 1.26 acre lot. The home is owned by Roxanne and Hubert Guez. Hubert Guez is the current CEO of the Ed Hardy brand. Last year it was reported that Ed Hardy designer Christian Audigier would be moving into the home and planned to do business from there. The home was on the market for $38 million in 2008. Hubert Guez bought the home in 2004 for $18.5 million. The home was built in 2002 and includes a library, theater room and wine cellar. There is also a pool and a guest house on the property.