Cher has chopped $10 million from the price of her longtime Italian Renaissance-style estate in Malibu, now asking $75 million.
The singer and actress has cut the price of the 13,100-square-foot mansion at 25142 Pacific Coast Highway, TMZ reported.
Cher listed the home in October, but it never sold and was taken off the market. It was re-listed at the lower price near the close of last week.
Brokers Drew Fenton and Robert Kass of Carolwood hold the listing.
The “Believe” singer paid $2.95 million for the 1.7-acre property in 1989 and built the Venice-inspired manse 10 years later. She previously listed the property for $45 million in 2009, according to Realtor.com.
The three-story, split-level house, which has arched windows and doors facing the ocean, took nearly five years to build and was inspired by Venice, Italy, Cher told the Wall Street Journal last fall. “From every room, there is an ocean view,” she said.
The gated property has a driveway lined with 40 palm trees and a courtyard with a Moorish-style fountain.
There are seven bedrooms, plus the gatehouse, which serves as a guesthouse. In the main house, the primary suite has a meditation room and two closets, including one that doubles as a panic room.
The primary bathroom is designed like a hammam with Turkish wood screens.
The lower level has an indoor-outdoor gym and theater. Cher also has a climate-controlled wig room with close to 100 hairpieces, according to the 2002 book “The Cher Scrapbook.”
Cher, a pop icon and Academy Award-winning performer, gained popularity in the 1960s as half of the husband-wife duo Sonny & Cher. She later released many of her own albums and there was a Broadway musical about her life.
Malibu has had increasingly high-priced sales and listings. Billionaire media mogul Byron Allen paid $100 million for an estate in Paradise Cove formerly owned by self-storage billionaire Tammy Hughes Gustavson.
Last April, former Disney CEO Michael Eisner listed his 25,000-square-foot Malibu estate for $225 million – which could set a California sales price record if it sells at the asking price.
Since October 2021, venture capitalist Marc Andreessen and his wife, Laura Arrillaga-Andreessen, have bought three separate Malibu homes for a total of nearly $256 million.
Last fall, reality TV billionaire star Kim Kardashian paid $70.4 million for a Malibu property formerly owned by model Cindy Crawford and Rande Gerber, initially listed for $100 million.
In December, video game developer Jon Burton sold his beachfront Malibu estate for $91 million, down from an initial ask of $125 million.
— Dana Bartholomew
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