Home of prolific producer sells after 2 years on the market

Los Angeles /
Jan.January 24, 2017 08:30 AM

A hefty price cut appears to have done the trick for Hollywood exec Mike Medavoy’s Beverly Hills abode.

After lingering on the market for more than two years, the property finally sold for $9.9 million, down from its original asking price of $15 million, the Los Angeles Times reported. 

The “Black Swan” and “Shutter Island” producer slashed the price of the seven-bedroom compound to $12 million in August.

The 8,829-square-foot Hamptons traditional-style property sits on 1.85-acres of land and has 8.5 bathrooms, a media room, a library, a breakfast nook and five fireplaces. Outside, there’s a detached guesthouse, a pavilion and a swimming pool.

Medavoy bought the home for $8.2 million in 2013.

In the latest transaction, Coldwell Banker’s Jade Mills and Joyce Rey were the listing agents. Mark Alba of Alba Realty represented the buyer. [LAT]Cathaleen Chen


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