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Casa Encantada, one of Los Angeles’ most iconic estates, has seen a dramatic price reduction from $195 million to $165 million, according to the property’s listing.
This $30 million drop comes just a month after the Bel-Air megamansion hit the market. The property is being represented by Kurt Rappaport of Westside Estate Agency.
Described by Compass agent Josh Flagg as “one of the finest residences in the United States” in a statement obtained by the New York Post, the home certainly lives up to its reputation. It spans 40,000 square feet across 60 rooms, including 7 bedrooms and 20 bathrooms, and sits on an 8.4-acre lot at 10644 Bellagio Road.
Flagg notes that while the luxury market has cooled since 2017, with no buyers rushing to purchase homes priced over $100 million, there are still those who can afford such a property — and “it just takes that one person.”
Originally built in 1937 by James E. Dolena, the estate has been meticulously restored by designer Peter Marino and boasts Deco Hollywood interiors by T.H. Robjohns Gibbons.
The grand home features an elegant foyer with a sweeping staircase, period moldings, a 60-foot pool, a professional screening room and a lush tropical garden landscaped by Benjamin Purdy.
The property’s storied history adds to its allure. Once owned by hotel magnate Conrad Hilton, who dubbed it “The House Where Dreams Come True,” it was later purchased by billionaire David Murdock in 1980 and sold to businessman Gary Winnick in 2000 for a record $94 million, the New York Post reported.
Winnick spared no expense in its restoration, even bringing in eight Parisian artisans to hand-lacquer the dining room walls.
