This Los Angeles Megamansion Has Been On Sale For Two Years, And Just Had A $20 Million Price Increase

By on October 4, 2019 in ArticlesCelebrity Homes

Conventional wisdom states that after a given period of time, if you can't find a buyer for your house (or whatever it is you're trying to sell), you lower the price to make it more attractive to a larger group of potential buyers. But conventional wisdom, as it often does, has failed to predict the actions of those who have been trying to sell the Los Angeles megamansion known as "Opus." This lavish Beverly Hills home has reportedly been on the market for two years, which hasn't stopped its owner from recently raising its asking price by almost $20 million.

That puts the asking price for Opus at an impressive $79.9 million, which is about $20 million more than the $59.9 million the price was set at in May of this year. However, it's still about $20 million short of its original asking price when it went up for sale back in 2017, when it was priced at $100 million. Since then, it has seen several price reductions over the years, but this is the first time it's seen an increase in price, instead.

The spectacular seven-bedroom home is the work of developer Nile Niami, who has made a business out of designing and constructing such giant homes on spec and then selling them to wealthy buyers eager to live in a one-of-a-kind home. And Rayni Williams of Williams and Williams (one of the property's listing agents) told Business Insider that it was Niami's decision to increase the price:

"The plot of land next door sold for $30 million and the land across the street sold for $25.5 million having no homes on them…For that reason Mr. Niami raised his price."

As for the house itself, it's a jewel at any price, nestled in the exclusive Trousdale Estates but with a design that its official real estate listing suggests took inspiration from the stars:

"This modern space station has the most explosive views in all of Los Angeles. Hovering over the 50-yard line of the city of Angels, the best of both worlds, the entertainment of the legendary Sunset Strip and the finest amenities of 90210 and Rodeo Drive. Architecture by world-renowned architect, Paul McClean, the master of space, light and flow. Features 2 pools, 2 kitchens, oversized theater, wine cellar, billiards room, car museum and audio & visuals that channel Ziggy Stardust ground control to Major Tom. Fully furnished by the most exquisite forward thinking designs that Italy has to offer. Here's your chance to live in your own galaxy."

One of those swimming pools is inside, while the other is outside. They're joined by additional amenities like a 15-seat home curved screen movie theater and a "Savant" home automation/security system. Then there's all the art and furniture found inside the home, which along with the 170 bottles of Cristal in the champagne vault are included in the price.

For a better look at Opus, now $20 million more expensive than it was a few months ago, take a look at the elaborate promotional video below from Hilton & Hyland:

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