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Dr. Dre’s Woodland Hills mansion sells fast, but at a discount
The music mogul, who owned his 8-bedroom home for 20 years, had to contend with an unstable LA luxury market
Music mogul Dr. Dre has made a quick sale on his Woodland Hills mansion — complete with huge fish tank and saltwater pool — but the deal came at a discount.
The 54-year-old founder of Aftermath Entertainment and Beats Electronics unloaded the 16,000-square-foot home for $4.5 million, according to the Los Angeles Times. It was a 14 percent discount from the asking price, when the home hit the market a month ago.
The 30-year-old mansion has been renovated and includes eight bedrooms and 13 bathrooms. It has a movie theater, indoor spa, an elevator and a 150-gallon fish tank. The property also includes a saltwater swimming pool.
He bought it in1999, paying $2.35 million at the time.
The sale, below asking price, was another indicator of this year’s slowdown in the Los Angeles high-end residential market. The first quarter saw a precipitous fall: 31 percent fewer homes sold compared to the same period in 2018.
According to Forbes, Dre has a net worth of $800 million. In the last few years, he has made some big residential deals in L.A. Last year, he paid $4.9 million for a 9,400-square-foot home in Calabasas.
He sold a home in the Bird Streets for $32 million in 2015, a year after paying Tom Brady and Gisele Bundchen $40 million for a massive compound in Brentwood. [LAT] — Dennis Lynch