In another sign of a cooling trend in celebrity homes, a Pasadena mansion used by the iconic 1980s show “Dynasty” has slashed its asking price by nearly a third.
The gated 17,600-square-foot estate, a favorite Hollywood filming location over the years, was re-listed this month for $19.5 million, the Los Angeles Times reported.
That’s $8.5 million less than when the three-acre property hit the market in 2017 at $28 million, or $2,154 per square foot.
The drop shows how parts of Los Angeles County are simmering down, making it more difficult to sell luxury real estate near original asking prices.
The property at 1145 Arden Road is officially called the Arden Villa, but is more popularly called the “Dynasty Mansion,” after actresses Linda Evans and Joan Collins fought it out in a lily pond on the property in a signature catfight scene. Big movies also filmed at the property, including “Terms of Endearment” and Adam Sandler’s “Billy Madison.”
The seller is an entity registered to Guang “Geoffrey” Ren, who purchased the home in 2013 for $20 million from “Spring Breakers” producer David Zander, according to property records.
The four-story main residence is a Palladian-inspired Italianate house. It was designed by Marston & Van Pelt and built in 1913 for William Kennon Jewett, the railroad heir and mining tycoon.
The property has 10 bedrooms, 11 bathrooms, a 2,430-square-foot guesthouse, a games room, a wine cellar, a tennis court, and two pools. Nick Cacarnakis and Jack Chang of Berkshire Hathaway have the listing. [LAT] – Gregory Cornfield
Source: The Real Deal Los Angeles