A bankruptcy court in California has chopped the historic Hearst Estate in price by nearly $50 million since late 2019, when its owner filed for Chapter 11 bankruptcy protection.

Attorney Leonard Ross, owner of the Hearst Estate for decades, has been seeking to unload the historic property since at least 2007. At one point, it was on the market with an asking price of $195 million. In March, it was listed for $119 million — only to be relisted for $90 million in April and $70 million last month.

Not to be confused with the northern California landmark known as Hearst Castle, Hearst Estate is a 3.5-acre Beverly Hills estate built by banking executive Milton Getz in 1926. Publishing tycoon William Hearst and his actress-mistress Marion Davies lived in it until his death in 1951, but it was also the 1953 honeymoon destination of John F. Kennedy’s and wife Jacqueline, a backdrop in the 1972 movie “The Godfather” and the setting for several Beyonce videos.

“Historically significant properties take a special buyer because you need someone who respects and appreciates architecture of the 20’s and 30’s, and who understands the historical significance,” Anthony Marguleas of Amalfi Estates told the New York Post.

The 29,000-square-foot mansion is built into an H shape opening onto an 800-foot driveway with a fountain. It’s built in the style of a Spanish villa and boasts an 80-foot entry hall, an arched hand-painted ceiling, gilded paneling, chandeliers and great stairways. The carefully landscaped grounds boast an Olympic-size pool, eight-car garage, numerous terraces and patios, homes for guests and staff and gardens with waterfalls and Roman columns.

A bankruptcy court in Los Angeles was tasked with selling the Hearst Estate after Ross placed the limited-liability company that owns the property into chapter 11 bankruptcy in December 2019.

Marguleas holds the listing alonside Gary Gold of Hilton & Hyland and Zizi Pak and John Gould of Rodeo Realty.

Email Veronika Bondarenko

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription