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New to Market: Sunset Strip Drop Explainer

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If you're wondering why this Sunset Strip home at 1162 Sunset Hills Road is now listed at $7.495 million after initially hitting the market last year for $14.6 million, here's the backstory: Originally, the owner wanted to sell this home and another property--the guest house at 1143 Cory Avenue--together so listed the parcels together. A year later, the owner has decided to split up the properties (and they've dropped the prices on the homes). From the listing for the big house: “This stunning property features a 4br+6.5 ba with Hi-Ceilings, dramatic open space with view from every room, sensational kitchen, step down living room w/ bar. Formal dining room, Screening room, exercise room, steam & dry Sauna. Luxurious master Bedroom with lots of closets. Awesome yard & Cabana, excellent for entertaining.” Meanwhile, the guest house is asking $1.795 million.--Haily Zaki