Another High-Priced Listing: $45 Million Beverly Hills Estate
Here's a real estate riddle for you: If you list your house in 2009 at $49 million and it doesn't sell, what makes you think it will sell for $45 million two years later? Our best punchline: You've been out of the country and haven't heard about the housing crash.
In this case, the Korean businesswoman who listed the property that she calls the Hutton House Estate may very well have not been around these parts much. In any case, we wish her well as she attempts to sell the 22,000-square-foot house that was bought -- unfinished -- at auction in January 2007 for about $17 million. The owner finished the construction and put it back on the market where -- surprise! surprise! -- it didn't sell. But if at first you don't succeed, try try again!
The 5.2 acre property sits on a promontory above Benedict Canyon and, according to the first time it was listed, was modeled after Le Petit Trianon at Versailles. The home has seven bedrooms and 15 bathrooms.
Listing agents Aitan Segal and Joe Babajian, both of Rodeo Realty, provide very little detail in their MLS description except to note that it is located in a gated community and will be shown by appointment only to pre-qualified buyers.
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