[Photos removed at request of former listing agent]
One of those custom-designed chateaus by architect Richard Landry, this home--a spec house--came to market in August 2008, listed at $45 million and has just returned to the MLS, boomeranging in at $31.5 million. "We are responding to the market conditions," Hilton and Hyland real estate agent Mauricio Umansky tells us, explaining the chop. "We probably were over aggressive in the original pricing, and really the right price is about $38 million, so you're at the right price now." Architect Landry, you will recall, is famous for designing mini-Versailles style estates for such celebrities as Sylvester Stallone and Eddie Murphy. Meanwhile, the house is staged, but they'll probably throw in that cheetah painting with the estate. Wow, that one bathroom is insane. As for the developer? "He's developed a few homes around LA." We suggest taking the whole tour via this link.
· 40 Beverly Park Circle [Redfin]