Filed under: Estates
What's not to love about a castle that sits under the Hollywood sign? Especially if the price has been chopped from $7.5 million (the price the house was listed for in June 2008) to $4.7 million?
TV personality Debbie Matenopoulos and her soon-to-be-ex-husband Lionsgate Entertainment music executive Jay Faires have re-listed their Norman-style castle, once known as Wolf's Lair. The couple reportedly bought in 2002 for $2.9 million. Because of the association with Hitler's bunker of the same name, plans are to change the name to something, well, more castle-y.
The turreted 5,485-square-foot castle that sits on 3.3 acres was built in the 1920s and includes a two-bedroom guest house designed by architect John Lautner. The main house was built by and named after L. Milton Wolf, the developer of Hollywoodland. In fact, the Hollywood sign that sits behind the home was put there by Wolf to advertise Hollywoodland. ( The original sign bore that name and was covered with 4,000 flashing electric light bulbs.) There is a heart-shaped black-bottom pool and eight bedrooms total on the property, which sits high above Los Angeles' Beachwood Canyon.
Lure about this property is legendary. Wolf, something of a ladies' man, reportedly installed a secret apartment under the gatehouse where he entertained, ahem, privately.
Bugsy Siegal's former castle -- the one Madonna owned subsequently -- is right up the road a piece. Castillo del Lago is listed at $9.95 million, making the former Wolf's Lair a relative bargain.
Ernie Carswell of Teles Properties, Beverly Hills, has the listing.
Gallery: Just Don't Call It 'Wolf's Lair'