Jennifer Lopez Sells California Estate for 42% Less
Jennifer Lopez Sells California Estate for 42% Less
realtor.com
After several years of trying to unload her Hidden Hills, Calif. estate, singer and actress Jennifer Lopez has finally sold it for $9.9 million, far short of the property’s original $17 million price tag.
Ms. Lopez first put the house on the market for $17 million in 2015, then reduced the price to $14.5 million and again to $12.5 million. The home was listed with Brett Lawyer of Hilton & Hyland and Marc Shevin of Berkshire Hathaway HomeServices California Properties.
The buyer was Neil Ghodadra, an orthopedic surgeon, and his wife, according to people with knowledge of the transaction. Mr. Ghodadra couldn’t be reached for comment.
Hidden Hills, a gated community outside Los Angeles, is popular with celebrities because of the security and privacy it offers, said Emil Hartoonian of the Agency, who represented the buyers. He added that the buyers plan to do “quite a bit of work and improvement to the property,” which was built about 30 years ago.
Ms. Lopez paid $8.2 million for the property in 2010, then remodeled the house. On roughly 3 acres, the nine-bedroom home measures approximately 17,000 square feet. The traditional-style home has an entertainment wing containing a recording studio, a dance studio/gym, a dressing room, full-service bar, 20-seat theater and a guest suite. The grounds include a swimming pool and spa.
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