Ryan Kavanaugh can’t catch a break.
The former Relativity Media executive lost money on his Brentwood estate on Woodburn Avenue, which he sold for $9.3 million, nearly $450,000 less than he paid for it and roughly a million less than he initially asked, Variety reported.
At 9,100 square feet, the home has six bedrooms, six full bathrooms, a fully stocked wet bar, an art studio and a fitness room. A swimming pool and spa, a custom putting green, a potting shed and lush landscaping fill the outside.
Kavanaugh purchased the “Hamptons Traditional” for $9.75 million in August 2016, records show.
His mother, Leslie Kavanaugh of Rodeo Realty, had the listing.
Kavanaugh, famous for blockbuster hits including “Limitless” and “Dear John,” is also having a tough time trying to sell his other residence in Malibu’s Point Dume. The home was put on the market in April 2016 for $10 million and dropped to $8.9 million before it was taken off the market five months later. He owns other properties in the Pacific Palisades, Calabasas and Santa Monica. To make matters worse for the Hollywood spender, the Relativity Media founder was hit with not one, but two lawsuits from former business partners earlier this year. [Variety] – Natalie Hoberman