Way back in November 2012, as the global economy gingerly emerged from a long recession, an enormous Hollywood Hills estate sold for $39 million. That unprecedented sale price shocked all real estate observers and sparked an avalanche of gold-digging developers to build and market their own “trophy” modern mansions in the hills. Very soon, the 90069’s landscape was dotted with lookalike glassy compounds, all of them sporting flat roofs, sharp-edged infinity pools, and astronomical asking prices.
Back in May, federal prosecutors reached an agreement with Low’s lawyers to sell the uninhabited compound, which reportedly costs an outrageous $690,000 in annual maintenance and taxes. The agreed-upon $24.5 million ask is indicative of the sluggish market, as well as the home’s unpretty current appearance.
Of course, this property is still one of the largest and best view lots in the Hollywood Hills. And it’s still a trophy compound, shabby current condition notwithstanding.
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