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Jeremy Renner Sold Hollywood Hills Land for $8 Million; Developers List Mansion for $99 Million
Sentiment: NeutralHigh Priority
What Happened?
A Los Angeles mansion, developed on land sold by Jeremy Renner, is back on the market for $99 million after a $26 million price cut. The property features 22,000 square feet of luxury living space.
Key points
- The mansion at 7661 Curson Terrace was relisted for $99 million, down from $125 million.
- Developers Branden and Rayni Williams of Beverly Hills Estates transformed the land purchased from Renner.
- The property includes seven bedrooms, 12 bathrooms, and a 100-foot infinity pool.
- Construction costs exceeded $5,000 per square foot, excluding land costs.
- The mansion is subject to Los Angeles' mansion tax, which would add to the purchase price.
Key insights
- The significant price cut may attract more potential buyers in a limited market.
- The mansion's unique design and features could set a precedent for future luxury developments.
- The mansion tax implications may deter some buyers from pursuing the property.
Why it matters
The sale reflects trends in the luxury real estate market, particularly the impact of high asking prices on buyer interest.
Tags
Entities
Jeremy Renner· PersonBeverly Hills Estates· OrganizationScott Mitchell Studio· OrganizationLos Angeles· City
Source
Times of India
