Filed under: Estates
Nothing like a little breaking real estate news to send me back to my computer on a Friday night. Earlier today the Real Estalker mentioned that financier Leonard Ross had declared bankruptcy. Ross just happens to own one of the largest and most famous homes in Beverly Hills, the former William Randolph Hearst / Marion Davies estate which he hoisted on to the market in 2007 for a jaw-dropping $165 million. It didn't sell and was later pulled off the market. The bankruptcy filings revealed that Ross owes $40 million in mortgages on the home. Later today Homes of the Rich found the listing for the home. It's back on the market with Hilton & Hyland for $95 million, a huge price drop. It's practically a bargain compared to Candy Spelling's $150 million home.
The pink stucco main home comes with 3.7 acres of land just a few blocks from Sunset Boulevard. The home was built in 1927 for banker Milton Getz and designed by Gordon Kaufmann. Marion Davies bought the property in 1946 for William Randolph Hearst for a reported $120,000. Ross bought the home in 1976. If you had acted fast 20 years ago, when the home was briefly on the market, you could have picked this place up for $25 million. The home has been in several movies including The Godfather, The Jerk and The Bodyguard.
Listing pictures from the property website show off the beautiful landscaping and a couple of the home's massive rooms including the library with hand carved woodwork and a second story wrap-around balcony and bookshelves; and the billiard room with a massive carved stone fireplace mantle from San Simeon. There is also a formal dining room, breakfast room, and family room with outdoor terrace accommodating up to 400 for sit-down dining. The garden level is home to an art-deco night club, wine cellar, and one of two projection rooms in the residence. It comes with a commercial kitchen, staff accommodations, a lighted tennis court with indoor bar and media center, guest house above eight car garage, separate security cottage, separate two bedroom apartment and the two story gate lodge with kitchenette and four bedrooms. We've heard rumors that the home is in less than an ideal state of repair but the new owners will be getting a prized piece of property with an incredible history.
Gallery: Beverly House