This is not a good time for high-priced homes on the market in Los Angeles, many of which have lingered without a nibble, or have had their prices reduced.
Actress Kirstie Alley is the latest owner to chop the asking price, this one on her large estate in Los Feliz, Variety reported.
After six months without a sale, Alley is now asking $10.8 million, down from the $12 million she sought in December, according to the report.
Alley isn’t the only one cutting prices in Los Feliz. Musician and entertainer Michael Feinstein dropped the ask on his 15,200-square-foot estate in April, from $26 million to $18.9 million.
The six-bedroom, seven-bathroom home sits on one acre. The yard has lawns and what Nourmand & Associates listing agent Konstantine Valissarakos called in marketing materials “brooks, grottos and ponds.”
Price chop or not, Alley will likely walk away from Los Feliz in the green. The actress, best known for her role in “Cheers,” purchased the home in 2000 for $3 million.
The last big celeb to close a deal in Los Feliz was “The Big Bang Theory” star Jim Parsons, who sold a 1.5-acre property for $7 million in April. That was $2 million below his asking price, but still above what he paid for the home in 2014. [Variety] — Dennis Lynch