Trousdale Estates mansion returns with $2M price hike

Even as market cools, agent says $26M is fair price for 911 Loma Vista Drive

Rommy Shy and 911 Loma Vista Drive in Beverley Hills (Royalty Realty, Zillow, Getty)
Rommy Shy and 911 Loma Vista Drive in Beverly Hills (Royalty Realty, Zillow, Getty)

Prices for the wider housing market are cooling off, but in a seemingly counterintuitive move, the asking price for a mansion located at 911 Loma Vista Drive in Beverly Hills has boosted its asking price by almost $2 million.

The 11,000-square-foot mansion, based in the exclusive Trousdale Estates neighborhood, was listed at nearly $26 million or $2,363 per square foot on Aug. 18. The eight-bedroom, 13-bathroom home built in 1974 was listed for $24 million on Aug. 17. It had been off the market since January when it was listed for $26 million.

The home’s seller is Rommy Shy, president of Royalty Realty brokerage in Downtown LA.

The house has been on-and-off the market since 2019. The listing is currently held by Aaron Kirman, Alex Howe and Weston Littlefield, all affiliated with Compass.

Kirman said the current asking price keeps the listing in concert with the surrounding market.

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“While we’re seeing the market slowing down, the Trousdale Estates neighborhood is still very much in demand among buyers. We think we’re pricing the property fairly, and the right buyer will recognize what a truly remarkable residence this is,” Kirman said.

Comps on the Zillow listing site include an 11,000-square-foot mansion at 1095 North Hillcrest Road, which had a higher asking price of $27.5 million, or $2,507 per square foot.

Price boosts can be used as a common pricing strategy, according to a Los Angeles real estate veteran who requested anonymity. With this strategy, agents place a listing at a higher price, perhaps 5 to 10 percent higher than a previous ask. When a prospective buyer negotiates, it is expected the buyer will submit a lower bid, which might match the price a seller was initially seeking. There’s always the chance a buyer will purchase the house for the higher price.

Russian businessman Gennady Moskovich owned 911 Loma Vista Drive from 1998 to June 2021. An LLC linked to Shy bought the home for $20.3 million.

The house sits on one of Trousdale Estates largest lots, about 2 acres. A description of the property pitches 911 Loma Vista Drive as having the potential to be a “world-class development site.”

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