Wednesday, March 11, 2009

UPDATE: Beverly Park

Last week Your Mama went on and on (and on) about the half dozen or so houses currently available for sale in the fascinating and frightfully ostentatious Beverly Park community which sits high above Beverly Hills.

We also blathered on about a few of the Beverly Park behemoths that had recently been listed and removed from the open market before a deep pocketed buyer glided through the fabled and guarded gates. One of those properties is the 11,769 square foot Cape-Cod-ish crib of super producer Mike Medavoy and his wifey Irena which they listed in October of 2007 with an asking price of $23,500,000. The asking price was later reduced to $21,500,000 and the property was then removed from the open market after almost a year of twisting in the real estate wind.

Just a day or two after our discussion, and much to our surprise, the 2-acre Medavoy property popped back up on the MLS with a new, improved and lower asking price of $19,995,000.

The married Medavoys have apparently wanted to pack their bags and haul their hineys out of Beverly Park for quite some time because listing information we located reveals they've been trying to sell their 6 bedroom and 10 bathroom sprawler on and off ever since 2001 when they listed their white elephant at $15,750,000. Given that its new asking price is the lowest on any mansion (or mega-mansion) currently listed in the North section of Beverly Park, perhaps the Medavoys will have more luck selling their house than they have in the last six or seven or eight years.

We shall see children, we shall see.

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