In an effort to sell his glitzy Mallorcan estate, actor Michael Douglas slashed its price by almost $30 million — and appeared in a video tour of the property.

Named S’Estaca, the luxurious property on the Spanish island has 200 acres, a main house, and five apartments. Douglas and his wife, actress Catherine Zeta-Jones, put it on the market five years ago for $60 million and have since cut the price to $32.5 million. Florian Hofer of Engel & Völkers is the agent tasked with selling the estate.

The estate itself is as luxurious as one can be. It comes with five separate buildings, olive groves, a vineyard, woods, views of the sea, a pool, a spa, a wine cellar, and various fireplaces and terraces. A private pier, a fisherman’s house and endless views of Mallorca’s northern coast also come with the grounds.

“Many of my friends have stayed in S’Estaca and we have enjoyed wonderful times here together,” Douglas, 72, said in the video that has been made by Engel & Völkers.”S’Estaca has its own olives groves and vineyard. Naturally, there’s a fine cellar in which to store the award-winning wine.” Friends that visited the Oscar winner and Fatal Attraction star include fellow award-winning actors like Tom Cruise, Nicole Kidman, and Jack Nicholson.

The estate also comes with a romantic history. Austrian Archduke Ludvig Salvator bought the property in the nineteenth century and would invite Empress Sisi to visit him on his private yacht. To woo the empress, the archduke built her a bathing house and carved her name into the rocks. The property has passed hands many times since then but Douglas bought it in 1990 with his then-wife Diandra Luker.

“Over the past 30 years, I’ve put my own mark on the place, completely modernizing and redecorating the old buildings that were built by the archduke,” Douglas says in the video.

But even with the property as beautiful as it is, these types of properties can often end up sitting without a buyer for years because those who can afford that price point often want something custom to their style.

Email Veronika Bondarenko

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