Quantcast

The Real Deal Los Angeles

Hanover House in Beverly Hills gets price chop with new listing agents

The Roman James development hit the market last summer at $45M
By Natalie Hoberman | February 12, 2019 04:00PM

Hanover House in Beverly Hills

A modernist mansion built by spec home developer-to-the-stars Roman James has relisted at a discount roughly six months after first hitting the market, The Real Deal has learned.

The 12,000-square-foot residence on Hanover Drive is now seeking $39 million, down about 13 percent from the original $45 million.

There are also new agents selling the property: Kurt Rappaport and Drew Meyers of Westside Estate Agency. Previously, Josh and Matt Altman of Douglas Elliman had the listing.

Hanover House dining room

Dubbed the “Hanover House,” the 0.6-acre property includes five bedrooms and eight bathrooms. Amenities include two swimming pools, a movie theater, bar, an office, tennis court and a handful of outdoor decks.

Roman James Design Build, the developer, completed the home last year after paying $8.5 million for the property in March 2015, records show.

The Hanover home is the latest project from the upscale builder, who broke a record in the neighborhood when he sold his 23,000-square-foot mansion to the creator of Minecraft for $70 million in 2014. Video game entrepreneur Markus Persson beat out power couple Beyoncé and Jay Z for the pad, which features Bentley pillows and a replica of James Dean’s motorcycle.

Hanover house bedroom balcony

It’s also one of the many relistings dominating the high-end market. In December, the seller of the “Shark house” — which features live sharks — dropped the price of the Beverly Hills spec home from $35 million to $29 million. To sweeten the deal, the seller also threw in a private jet membership.

Buyers in the luxury market have shown signs of hesitation in recent months amid mounting inventory and prices that have remained stubbornly high. In the fourth quarter, the number of sales in the sector closed dropped 7 percent year over year to 66 homes, according to a report from Douglas Elliman. Meanwhile, the median sales price of a home in the high-end market rose 10.6 percent to $9.9 million.