Gala Asher’s Wallingford Estate in Beverly Hills just got a $25M price slash

The 38K sf estate was listed a year ago for nearly 20% more

TRD LOS ANGELES /
Sep.September 23, 2019 11:00 AM
2571 Wallingford Drive in Beverly HIlls (Credit: iStock)
2571 Wallingford Drive in Beverly HIlls (Credit: iStock)

An expansive and completely rebuilt mansion that claims to have the biggest zero-edge infinity pool in Beverly Hills has been treading water on the market for more than a year.

Now, owner and developer Gala Asher has slashed its $135 million asking price by 18 percent, the latest major price reduction to hit the uber-luxury market in Los Angeles.

The 38,000-square-foot “Wallingford Estate” re-listed for $110 million, marketing materials show. Despite the dramatic reduction, if it sold at that price it would join an exclusive club of homes selling in the nine figure-range amid the mushy market.

Located on Wallingford Drive near the Beverly Hills Hotel, the 5-acre property includes a main house, 5,000-square-foot guest house, two-bedroom guard house, sports facility, and caretaker house.

Combined, there are 12 bedrooms and 24 bathrooms on the property. Amenities include the 155-foot swimming pool, basketball court and a private spa.

Asher bought the estate from Korean businesswoman Jeoung Lee in 2016 for $22 million. Records show the buying entity is also tied to developer Ed Berman, who has worked with Asher in the past.

The estate, which was originally built in 2000, was then rebuilt and expanded.

Ginger Glass of Compass still has the listing. She could not be reached for comment.


Related Articles

arrow_forward_ios
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

The biggest sales in LA

Here are the biggest resi sales in LA County

Oprah Winfrey and Jeff Bridges with the home (Credit: Getty Images and Realtor.com)

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

Mohamed Hadid and his ill-fated spec mansion

Hadid’s Bel Air mansion must be torn down: city

Simon Fuller and his wife, Natalie

Off key: “American Idol” creator cuts price on Bel Air home

The top residential sales this week

Here are the biggest resi sales in LA County

arrow_forward_ios