In L.A. real estate, two houses are always better than one.
Gary Wilson, the former chairman of the board of Northwest Airlines, has divided his sprawling Holmby Hills estate into two separate parcels in order to appeal to a wider range of prospective purchasers, sources told The Real Deal.
The property, best known as the former home of socialite Edith Mayer Goetz, previously hit the market for a total $79 million in September. The main house, which sits on roughly 2.2 acres, is now available for $45 million, while the adjacent approximately 2.5-acre parcel is asking $37 million.
Wilson acquired the main property from the Goetz estate in 1990, and later purchased the adjacent property, combining the two. The adjacent lot has a lighted tennis court, a pool, a conservatory and a two-story guest house.
Splitting up the two parcels opens the property to a larger number of prospective buyers who may not have been able to afford the $79 million price tag, sources said. Previously, the property was so large that guests traversed the grounds by funicular.
Jeff Hyland and Drew Fenton of Hilton & Hyland share the listings with Aaron Kirman of John Aaroe Group.
The 11-bedroom, 20,000-square-foot Georgian Revival-style main house dates back to the 1930s and features a screening room where Goetz, daughter of Metro-Goldwyn-Mayer co-founder Louis B. Mayer, debuted movies to her friends pre-release.