Beverly Hills pad tied to Howard Hughes hits auction after 2 years and 4 price cuts

Mid-century Modern home was most recently listed at $10.9M

Aug.August 06, 2019 12:00 PM
Home on Haynes Avenue and Howard Hughes (Credit: Britannica and iStock)
Home on Haynes Avenue and Howard Hughes (Credit: Britannica and iStock)

A Beverly Hills home reportedly built for late business tycoon Howard Hughes is headed for auction after several price cuts, the latest evidence of a luxury slowdown that has crept through the Los Angeles real estate market.

The 4,600-square-foot home on Haynes Avenue has been lingering on the market for two years. Its asking price has been slashed four times, dropping roughly 34 percent to $10.9 million.

The home on Haynes Avenue
The home on Haynes Avenue

Designed by architect Samuel Wacht, the Mid-century Modern has four bedrooms and five bathrooms. There’s also a swimming pool, jacuzzi, gym and sunken living room area.

Concierge Auctions is holding the no-reserve auction via its online marketplace on Aug. 15, with bidding starting two days earlier. Josh and Matt Altman of Douglas Elliman have the listing. A no-reserve auction is a gamble because the home will be sold to the winning bidder no matter the price.

Property records show the home last traded for $7.5 million in 2016. The owner is a trustee of Debra A. Gonzalez. The home listed on the market for $16.5 million roughly a year after the purchase.

Hughes is believed to have owned the home in the 1960s, according to a previous report in the Los Angeles Times. During his ownership, he was known for hosting Hollywood’s elite at the one-story home.

Related Articles

Four homes have been bought for a combined $400 million recently in L.A. (Credit: iStock, Wikipedia, and Westside Estate Agency)

The $100M club: LA’s priciest mansions are having a moment

Hadid and the home (Credit: Getty Images)

Hadid: I must continue building Bel Air mansion to satisfy creditors

The Beverly House (Credit: Jade Mills Estates)

Beverly House owner hopes Saudi prince is his white knight

Robert Shapiro and the property at 1357 Laurel Way (Credit: Zillow)

Beverly Hills mansion tied to Ponzi schemer sells for $18M

Mohamed Hadid says he can’t pay to tear down his mansion (Credit: Getty Images, iStock)

Hadid says he’s too broke to tear down megamansion

Oprah Winfrey and Jeff Bridges with the home (Credit: Getty Images and

Oprah has now spent $86M on her Montecito real estate empire

Masrour and Mansour Barzani and the two Beverly Hills properties

Beverly Hills mansion buys linked to powerful Kurdish family

Jonas Brothers set real estate records in Encino

Jonas Brothers set real estate records in Encino