The large Los Angeles estate owned by late fashion designer Max Azria and his wife, Lubov Azria, debuted Monday with a just-reduced price tag of $ 75 million.
Aptly nicknamed Azria Estate, the megamansion was asking for $ 85 million since last July.
The residence has a history of price adjustments and has been in and out of the market with an eight-figure floating price – $ 88 million at its highest and $ 68 million at the lower end – since 2015, listing records show.
Built in 1939, the 30,000-square-foot home is located in the opulent Holmby Hills neighborhood of the city. It was designed by prolific Tinseltown architect Paul R. Williams, who was the first black architect to become a member of the American Institute of Architects, according to listing with Mick Partridge of the Partridge Estates Group at Hilton & Hyland.
“Activity in the high-end luxury market of Los Angeles continues to thrive as we move closer to 2022,” Mr. Partridge told Mansion Global via email. Shares the list with Compass’ Tomer Fridman.
“The Azria Estate, the largest original Paul Williams, sits on 3 acres in the heart of Holmby Hills and, at this new price point, we believe it is an unprecedented option among the city’s pedigreed properties,” he said.
During the third quarter of 2021, the luxury single-family home market in Holmby Hills and nearby Bel Air saw its median prices rise 18.8% to nearly $ 3.5 million from the same period last year. , according to data from Douglas Elliman.
Homes were also stolen quickly in the area, typically in 35 days, a full week longer than in the third quarter of 2020.
Built in Williams’ signature Georgian colonial style, the 17-bedroom apartment boasts large columns, moldings and intricate finishes, according to the listing. French designer Philippe Starck has reinvented the interior, which now includes a floor-to-ceiling Swarovski chandelier with around 150,000 crystals.
The expansive property is equipped with a myriad of exclusive amenities, including a cinema, a library with a golden domed ceiling, and a poker room with a hidden door. There’s also a glass-walled tennis court, a Moroccan bathhouse, an authentic hammam, and a Japanese garden with a koi pond and tea room, the listing states.
Born in Tunisia, Azria was the founder of the BCBG Max Azria Group fashion house. He died in 2019 at the age of 70. Ms. Azria, 53, is also a stylist. She could not be contacted immediately for comment.
The couple bought the property in 2005 for just over $ 16 million, according to property records. Oscar-winning producer and writer Sidney Sheldon previously owned the house, according to records.