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.8M Paul Williams-Designed Mansion Is This Week’s Most Expensive New Listing

A graceful Paul Williams–designed estate in the posh Holmby Hills area of Los Angeles is this week’s most expensive new listing on realtor.com®.

Homeowner Richard Neu—whom Mansion Global describes as a “shipping magnate“—is trying to close a whale of a deal. He’s asking for $66.88 million for the property, which he purchased for just $15 million in 2006. If he gets anything close to his asking price, he could quadruple his original investment.

The home, which landed on the multiple-listing service this week, was shopped around earlier in the year. At that time, it was represented by Marisa Zanuck of Beverly Hills Estates Realty, where Neu is apparently a part-owner, the Real Deal reported.

Despite Zanuck’s celebrity cachet—she starred in “Real Housewives of Beverly Hills”—the home is still searching for a buyer. It is now being repped by another member of Beverly Hills Estates Realty, Christopher Danna.

Designed by Williams and built in 1926, the mansion measures 10,907 square feet. It has 11 beds, nine baths, a wood-paneled den, and living and dining rooms. The landscaped grounds include a tennis court and swimming pool.

The home is located “on the most enticing street in Holmby Hills,” according to the listing.

“Mapleton is a trophy street in Holmby Hills, and this house has … over an acre of flat land,” says Danna. “The grounds are like a private park setting.”

Williams-designed homes have become more prized, and pricey. Designer of over 2,000 residential homes, mainly in Southern California, Williams was the first African-American to become a member of the American Institute of Architects, in 1923.

The trailblazer designed homes for Frank Sinatra and Lucille Ball, among other stars, and was known for mastering a wide range of styles, including French chateau, regency, and Mediterranean.

This home with its sky-high price tag is in good company. There’s an even pricier property for sale, known as the Manor, on the same street. The $200 million megamansion was once owned by Aaron and Candy Spelling.

Not surprisingly, the area’s large and private mansions are a huge celebrity magnet. The late Playboy publisher, Hugh Hefner, kept a home there he dubbed the “bunny hutch,” which housed would-be Playboy Bunnies.

And an A. Quincy Jones–designed spread was picked up by serial flipper Ellen DeGeneres for $40 million. She flipped it for $55 million to tech entrepreneur Sean Parker in 2014. Perhaps DeGeneres will turn her investor’s eye to this gem.

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Source: Real Estate News and Advice – realtor.com » Real Estate News