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

TRD LOS ANGELES /
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

arrow_forward_ios
LVMH CEO Bernard Arnault and a rendering of the Cheval Blanc (Credit: Bertrand Rindoff Petroff/Getty Images and Peter Marino Architect/LA Times)

Louis Vuitton’s parent company plans ultra-luxe hotel in Beverly Hills

Kathryn Bigelow and the home (Credit: Trisha Leeper/FilmMagic/Getty Images, and Coldwell Banker)

The Hurt Valuation: Kathryn Bigelow slashes price on Beverly Hills home

From left: Jeff Bezos, the Beverly House and Lachlan Murdoch (Credit: Getty Images, Beverly House Estate, iStock)

Hearst estate owner hopes for $125M parachute amid megamansion frenzy

Simon Fuller and the home (Credit: Michael Kovac/Getty Images, and LAT/MLS)

“American Idol” creator sees $4M gain on Bel Air estate sale

North Office at 301 Canon Drive and Jamie Duran

Coldwell Banker closes an office in Beverly Hills, and throws a big party

Lauren Sanchez and Jeff Bezos with the property at 1441 Angelo Drive (Credit: Getty Images and Redfin)

A $90 million patch of dirt: A look at Jeff Bezos’ other record LA deal this week

Amazon CEO Jeff Bezos with the home (Credit: Pintrest and Getty Images)

Jeff Bezos buys David Geffen’s Beverly Hills estate for record $165M

John Mirisch

Meet Sacramento’s worst nightmare: Beverly Hills mayor John Mirisch

arrow_forward_ios
Loading...