Spelling Manor just sold, but this Holmby Hills estate is back on the market

The 32K sf property went back on the market for 20% off its original asking

Los Angeles /
Jul.July 02, 2019 01:00 PM
The home on South Mapleton in Holmby Hills
The home on South Mapleton in Holmby Hills

Just before the Spelling Manor in Holmby Hills sold Monday at a 40 percent price cut from its original asking — breaking the record for priciest Los Angeles County residential sale ever — a nearby mansion was relisted at a price chop.

That 31,624-square-foot home is back on the market for $70 million, 20 percent off its price last year. Despite the price cut, the listing is far higher than the owner paid for the home just five years ago.

The mansion on South Mapleton Drive is owned by an entity managed by two people, records show. One is Joanne Chao, a high-end house flipper; and the other Deborah Feldman, an attorney with Woodland Hills-based Feldman Berman Schwartz LLP. It’s less than half a mile from the Spelling Manor and two doors down from the Playboy Mansion.

The entity purchased the mansion in 2014 for $19.5 million from a trust that belongs Jo Anne Wallace, according to records. Realtor.com first reported the new listing. The owner filed in 2016 with the city to make alterations on the home, but it was unclear what those were.

Last year, the home was listed at a staggering $88 million. The Italian-style mansion built in 1993 has six bedrooms — including a 2,900-square-foot master suite — and 11 bathrooms. The 1.18-acre property also features a spa, movie theater, and indoor and outdoor pools.

Drew Fenton of Hilton & Hyland holds the listing. He did not return calls for comment.

The price cut adds to the growing number of Los Angeles high-end homes stuck on the market, as sellers adjust their sky-high pricing to accommodate a cooling market.

For the Spelling Manor, owner Petra Ecclestone sold the 56,000-square-foot home for $120 million, in a deal that closed July 1. The 123-room estate had been on the market since 2016, when it was listed at $200 million.


Related Articles

arrow_forward_ios
Photo illustration of 27112 Malibu Cove Colony Drive in Malibu (Photos via Realtor)

Staycationers sue luxury rental service for “abysmal” Malibu getaway

Staycationers sue luxury rental service for “abysmal” Malibu getaway
Howard and Nancy Marks with 219 S Mapleton Drive (Getty, Redfin)

Oaktree Capital co-founder pays $26M for Holmby Hills mansion

Oaktree Capital co-founder pays $26M for Holmby Hills mansion
Clockwise from top left: 1801 Angelo Drive, 911 North Foothill Road, 1025 Loma Vista Drive and 1175 North Hillcrest Road (Google Maps)

Bezos, Geffen, Katzenberg dominate LA’s biggest resi sales of 2020

Bezos, Geffen, Katzenberg dominate LA’s biggest resi sales of 2020
Nile Niami and "The One" mansion (Getty)

Niami’s “The One” to hit market

Niami’s “The One” to hit market
Eva Chow and 133 S Mapleton Drive (Getty, Realtor)

Eva Chow’s supersized Holmby Hills mansion gets another price cut

Eva Chow’s supersized Holmby Hills mansion gets another price cut
Elvis and Priscilla Presley with the home (Credit; Bettmann/Getty Images)

Elvis Presley’s former Holmby Hills home sells for $30M

Elvis Presley’s former Holmby Hills home sells for $30M
Jason Oppenheim and Josh Flagg (Credit: Alberto E. Rodriguez/Getty Images and iStock)

Pent-up demand lives! L.A. County home deals up year-over-year

Pent-up demand lives! L.A. County home deals up year-over-year
Frederik Eklund and a rendering of 8899 Beverly Boulevard (Getty, building courtesy of 8899 Beverly)

In tough market, West Hollywood condo developer plans $100M listing

In tough market, West Hollywood condo developer plans $100M listing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...