A Beverly Hills mansion designed by Peter Choate and owned by the son of late-billionaire Norton Simon has hit Los Angeles’ unsteady luxury market.
The 10,600-square-foot home is being listed for $42 million. It sits on just under 2-1/2 acres on Copley Drive, and overlooking the L.A. Country Club.
Choate designed the home in 1987, and worked for celebrities like Sharon Stone and Mel Brooks. The grounds are landscaped and feature a pool and a tennis court.
The overheated L.A. luxury market started off on the wrong foot this year. Sales slowed in the first quarter and sellers have been slashing millions of dollars off their asking prices.
Some of the properties on the top end, however, continue to sell. In July, the $120 million sale of the sprawling Spelling Manor in Beverly Hills broke the Los Angeles County record. And last month, NBC Universal’s Ron Meyer sold his Malibu compound to Whatsapp co-founder Jan Koum for $100 million, down from its $125 million asking price in January.
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Donald Simon, has been the longtime owner, according to listing agent Jimmy Heckenberg of Rodeo Realty. His father, an industrialist and philanthropist died in 1993. Norton Simon was a driving force behind the creation of the L.A. County Art Museum, according to the Norton Simon Museum in Pasadena, which contains his private art collection.