From the Los Angeles website: As of this week, the Hearst Estate in Beverly Hills is on the market for $195 million, making it California’s priciest listing. But an analysis of property records by The Real Deal reveals that the property is weighed down by nearly $60 million in loans.
The interest on the loans, sources said, adds up to millions of dollars a year and is likely to put pressure on the owner, real estate investor and attorney Leonard Ross, to swiftly sell or refinance the property, once owned by William Randolph Hearst and featured in the movie “The Godfather.” [more]