Beverly Hills' Hearst Mansion – Once Priced At $195 Million – Sells For $47 Million!

By on August 30, 2021 in ArticlesCelebrity Homes

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Someone out there got one heck of a bargain on the iconic and historic Hearst Mansion in Beverly Hills. The estate, which was built in 1926, has been home to newspaper mogul William Randolph Hearst and his girlfriend, actress Marion Davies. Hearst passed the property on to his longtime girlfriend, Marion Davies when he died in 1951. If looking at the house gives you a sense of déjà vu, there's a good reason – parts of "The Godfather" were filmed at the Hearst Mansion in the early 1970s. John F. Kennedy and Jacqueline Kennedy Onassis spent part of their honeymoon here. The property was used as a location for the Beyonce visual album "Black Is King."

The 29,000 square foot main mansion has nine bedrooms, 15 bathrooms, an art-deco nightclub, two screening rooms, a two-story wood-paneled library, and a billiards room with a spectacular fireplace. The estate is so large, its inhabitants could easily throw a party for 1,000 people without feeling crowded.

The property also features two apartments for staff or guests and a five-bedroom, two-story gatehouse, bringing the total overall bedroom count to 28. The property also features an Olympic-sized pool, waterfalls, pool house, and tennis pavilion. All of this is set on 3.5 acres of lushly landscaped grounds.

The Hearst Mansion was most recently owned by Leonard Ross, an attorney. Ross has been trying to sell the house on and off since 2007. He bought the property roughly 40 years ago for $2 million. He originally put it on the market for $195 million.

In 2019, Ross filed for bankruptcy and the house was ultimately sold for $47 million through the California bankruptcy court. A new bidder could come in and offer more for the house before the auction concludes on September 14.

Ross reportedly defaulted on more than $70.9 million in unpaid loans and interest provided by Fortress Investment Group, leading the bankruptcy court to appoint an administrator to sell the property. It was put on the market in April for $89.75 million. It was lowered to $69.95 million in June.

Whomever the buyer is, they are getting an amazing deal on a gorgeous estate with a storied history.

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