In the $100 million market, add another luxury property to the growing list of discounted mansions.
The Foothill Estate, a modernist residence with ties to Hollywood heavyweights, has re-listed at $97.5 million, a 22 percent drop from its original ask of $125 million, The Real Deal has learned.
Casey Wasserman, grandson of legendary agent and studio executive Lew Wasserman, first listed the 18,500-square-foot mansion the Beverly Hills Flats in October. He is the owner and CEO of Wasserman Media Group, a sports and entertainment marketing and management agency.
Built in 2016, the property features five bedrooms, an art studio, 1,150-square-foot gym, private screening room and automated steel and glass doors. Outside, an 85-foot infinity pool and pool house complete the 3.2-acre spread.
The home, designed by Richard Meier, sits on three lots — one of which was formerly owned by legendary singer Frank Sinatra. Wasserman paid $6.5 million to acquire the lot, while inheriting the other two from his late grandparents, Lew and Edie Wasserman.
Stephen Shapiro of Westside Estate Agency has the listing.
Home sellers in the upper echelons of the Los Angeles market have been struggling to unload their mansions in recent months, as evidenced by the wave of discounts and re-listings plaguing the market. In one of the more extreme examples, the so-called Mountain of Beverly Hills got a $350 million price chop, now seeking $650 million. On a smaller scale, Rockstar Energy Drink founder Russ Weiner has also slashed the price of his Beverly Hills pad to $36 million.