The legendary “Hearst Estate, located at 1011 Beverly Drive in Beverly Hills has recently accepted an offer for $47 million, since initially hitting the market in April.
“The Hearst Estate is anchored in American Legend and is a one-of-a-kind home that is truly a spectacular property. The residence has been enjoyed by many celebrities, making it a prized property for collectors of the finest architecture. This is a rare and prestigious opportunity to acquire one of the 10 most iconic homes in LA which you rarely see come available. This property now has a motivated seller and is priced to sell,” Anthony Marguleas of Amalfi Estates, said.
Property Details
The property is in bankruptcy and was ordered to be sold by the bankruptcy court. It had been on the market asking $165,000,000 and recently listed for $89,750,000 by a motivated seller. The home’s price has now been reduced to $69,950,000. BK Chap 7 (no auction) and the accepted offer has been recorded at $47,000,000.
Set at the end of one of the city’s longest private driveways, this home is a stunning tribute to its Architect, Gordon Kaufman. The main house with 9 bedrooms and 15 bathrooms enjoys a seemingly endless list of opulent living spaces to choose from. A formal living room is set under a soaring 22 ft arched hand-painted ceiling. The historic two-story wood-paneled library must be experienced in person along with the art-deco nightclub and two projection/screening rooms plus a billiards room with herringbone parquet floors featuring an intricate ceiling fan, ceiling detailing and fireplace from the Hearst Castle. These grand state public rooms and indoor/outdoor entertaining areas can comfortably accommodate up to 1,000 guests. Complementing the main house, the ancillary improvements include 2 staff/guest apartments, a pool house, a tennis pavilion, and a two-story 5-bedroom gatehouse.
All this is set on 3.5 acres of private grounds with sun-soaked terraces, manicured lawns, waterfalls, and an Olympic-sized pool to linger by. Three blocks north of Sunset Boulevard for a life of pure luxury and elegance like no other.
History
One of LA’s most iconic and legendary homes. The Hearst Estate was built in 1926 and is a prized property for collectors of fine architecture. As the former residence of newspaper magnate William Randolph Hearst, actress Marion Davies, and as the honeymoon hideaway for Jacqueline and John F. Kennedy, The Hearst Estate is anchored in American Legend and is a one-of-a-kind home that is truly a spectacular property.
Hearst (58) and Davies (21) began their affair in 1921. Visitors to their various mansions included Charlie Chaplin, Douglas Fairbanks, Harpo Marx, Clark Gable, Calvin Coolidge, Winston Churchill, Charles Lindbergh and Amelia Earhart.
Hearst hired architect Julia Morgan and built a mansion for Davies in Santa Monica in 1929, which is now the site of the Annenberg Beach House.
Davies purchased the Hearst Estate property in 1946 for Hearst. Hearst moved there from San Simeon and lived at The Hearst Estate where he spent the remainder of his life.
Hearst Estate is known as one of 10 most iconic homes in LA: Chartwell, The Playboy Mansion, Owlwood, The Harold Lloyd Estate, The Knoll, The Warner Estate, Casa Encantada, Greystone, and Pickfair
