The Real Deal Los Angeles

Pacquiao bobs and weaves his way out of Beverly Hills manse deal

House at 12055 Summit Circle back on market for $10.75M

May 31, 2016 09:30AM
By Katherine Clarke

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Manny Pacquiao and the Beverly Hills pad

Manny Pacquiao and the Beverly Hills pad

This was one deal the Pac-Man didn’t eat up.

A Beverly Hills compound eyed by boxing great Manny Pacquiao before his loss to Floyd Mayweather is back on the market after the fighter pulled out at the eleventh hour.

Pacquiao was in contract to buy the house, at 12055 Summit Circle, last year, when it was priced at $12.5 million, but that deal fell through. Listing broker Elsa Nelson relisted the property last week for the reduced price of $10.75 million. The new price does not include the contents of the house, which had been included in Pacquiao’s deal.

“Unfortunately, it did fall through after all the publicity and all the parties we had for him at the house,” Nelson told The Real Deal. “Two months into escrow, we received a call from his agent that he had decided he didn’t want to buy it. Maybe after losing the fight, he changed his mind. I’m just guessing.”

Pacquiao lost to Mayweather by unanimous decision last May. The Filipino pugilist made at least $120 million from the bout, which was billed “The Fight of the Century” but turned out to be a dull affair.

The 10,000-square-foot Mediterranean-style property, which once belonged to Sean “Diddy” Combs, has seven bedrooms and eight bathrooms and sits inside a guarded, gated community. It has a two-story foyer, a sweeping staircase with a dramatic chandelier, a formal living and dining room, a sports bar and a 20-seat home theater with a high-definition projection system.

Sellers Gail and Roger Dauer lost out on a deal to buy a new home in the area after Pacquiao backed out of buying their property, Nelson said. But they did reportedly get tickets to the big fight, hosted in Las Vegas, after Pacquiao brought his family around to look at the house, according to CBS.