Former Las Vegas casino mogul cuts mansion price
Former Las Vegas casino mogul Steve Wynn has slashed the sale price for his Beverly Hills mansion by nearly half.
Wynn previously listed the 11-bedroom, 27,150-square-foot mansion for $125 million in 2021. The sale price has now been dropped to $75 million, a discount of $50 million, according to the new listing.
Westside Estate Agency Inc. lists the property as having a pool, a wine cellar, a resort-sized gym and a massage room.
“Located on a private road in the City of Beverly Hills in the most prime and exclusive north of Sunset (Boulevard) location. An incredible trophy estate on almost three usable acres, behind gates, and completely secluded in total privacy,” the listing states. “Every detail has been constructed with the most exquisite taste, quality, and extraordinary materials. There are high ceilings throughout, great walls for art, and the perfect flow for large-scale entertaining.”
Last year Nevada officials banned Wynn from its gaming industry and imposed a $10 million fine for embarrassing the industry.
Luxury real estate prices across the country dropped in 2023 after a record-breaking previous two years during the COVID-19 pandemic, according to online real estate brokerage Redfin. Home sales worth more than $1 million are generally considered part of the luxury market, but it varies by area.
The average sale price for a Beverly Hills home is $2.8 million, a 60 percent drop from a year earlier.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.