Jerry Perenchio’s Bel Air estate gets $50M price chop, its second cut since 2017

The Chartwell Estate is now asking $195M, down from $350M last year
June 25, 2019 04:00PM

Jerry Perenchio and the Chartwell Estate

Jerry Perenchio and the Chartwell Estate

The massive Bel Air estate of late media mogul Jerrold Perenchio just got another deep discount.

Once a $350 million pocket listing, the 10-acre Chartwell Estate got a price cut of $245 million when it hit the Multiple Listing Service last fall. Now, it’s asking $195 million, according to Variety.

Even with the haircut, it remains the most expensive home listed in Los Angeles County on the MLS.

Multimillion-dollar discounts aren’t unusual in the world of high-end L.A. real estate. Agents often start properties with high asks to later drop them to more realistic levels, drumming up media coverage and attracting buyers with each discount.

The high-end market overall hasn’t performed well this year. Prices continue to climb, but sales have slowed.

The Chartwell Estate dates back to 1933. Perenchio purchased it in 1986 along with a handful of neighboring lots and steadily expanded the estate.

The 25,000-square-foot main home has 11 bedrooms, 18 bathrooms, a ballroom and a 12,000-bottle wine cellar. There’s a 75-foot swimming pool, guest house, covered parking for 40 cars and a tennis court on the meticulously landscaped grounds.

The former talent promoter and Univision CEO built up a large portfolio of real estate in L.A. during his storied career and some of those properties hit the market after he passed away in 2017.

Malibu purchased a 30-acre property in the city from Perenchio’s estate for $42.5 million last year. A beach house Perenchio owned in the city hit the market around the same time for $14 million. [Variety]Dennis Lynch