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Sunset Strip Old Hollywood Glamourpuss Now $745k Off

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Remember this packed old girl above the Sunset Strip? The three bedroom, four bathroom house was designed by F. Pierpont Davis and built in 1940, then later "reinterpreted" by king of Hollywood Regency John Woolf. It's been in Architectural Digest at least thrice and has "12' hand carved ceilings from a cathedral in Europe and a 10' solid limestone fireplace," a sauna, a guest suite, and a cabana. Asking price in August 2010 was $3.695 million; almost a year later the ax brings it down to $2.95 million.
· Three-Bedroom Villa in the Hollywood Hills [Curbed LA]