Holmby Hills megamansion ‘The Manor’ gets $25M price cut

One of the highest-priced residences in the nation is now $25 million closer to affordable.

The Manor, a Holmby Hills megamansion built for Aaron and Candy Spelling, hit the market in 2016 with a $200 million asking price. Owner Petra Ecclestone is now seeking a more modest $175 million sum for the enormous home, which she purchased in 2011 and extensively remodeled.

The 56,000-square-foot residence is slightly larger than the White House and sits on 5 acres in one of the most exclusive neighborhoods in the LA area. The Spellings commissioned the home in 1988, at the height of Aaron Spelling’s success as a TV producer. The couple demolished a more humble mansion once owned by Bing Crosby to make space for the 123-room estate.

Formula One heiress Ecclestone paid $85 million for the house seven years ago and was rumored to have turned down $150 million for the place in 2015. If it sells for anywhere close to that price point, the mansion will shatter records for the highest-priced sale in Los Angeles history.

No home in the county has sold for more than the $100 million commanded by both the Playboy Mansion and a spec house that Detroit Pistons owner Tom Gores bought in 2016.

The Manor has competition. A Bel Air spec house known as “Billionaire” is now on the market for $188 million—after a $62 million price cut in April. Either house could become the most expensive sold in the United States. The title is currently held by a Hamptons estate that fetched nearly $150 million in 2014.

• Famed Holmby Hills estate The Manor will hit the market for a whopping $200M [Curbed LA]
• Bel Air spec house gets a $62M price chop [Curbed LA]
• Candy Spelling Sells The Manor For $85 Million [Curbed LA]