Some billionaire home buyers are getting massive discounts due to coronavirus fears in the housing market. Recently, Kylie Jenner bought a house for $36.5 million in cash after the price was originally $55 million
in early 2019, when the house was first offered at $36.5 million. Property records and other online resources confirm the bargain-hunting buyer is an obviously very wealthy but non-famous local businessman who runs a large, L.A.-based manufacturing operation., the Beverly Hills-based heiress to a California real estate empire, the stately two-story structure sits just north of Sunset Boulevard and is gated for security.
Soft contemporary luxury pervades the interior spaces, and bespoke details are everywhere. Seemingly acres of walnut and marble floors flow throughout, and there are steel doors, windows, and custom light fixtures. Some of the property’s more extravagant amenities include an elevator, subterranean three-car garage, a library with bar area, a very nearly all-marble kitchen and an at-home gym with steam room.
Upstairs, there are separate his/hers master suites — his done up akin to a swank gentleman’s club with a black marble and mahogany-slathered bathroom and closet, hers with white marble and a lighter, more feminine vibe. The half-acre lot also include a 40-foot pool — perfect for lap-lane swimmers — and an adjacent one-bedroom poolhouse. Tall hedges and trees provide privacy imbue the backyard with a park-like atmosphere.
Despite the still-huge $23.5 million sale price, it remains unclear if Guerin reaped any sort of significant profit on her investment. Records reveal she bought the property in 2014 for $10.1 million, razed the existing house, and subsequently spent untold millions more on plans, permits and construction fees for her lavish spec-project. With realtor commissions, closing costs and taxes factored into the equation, the income received from the sale shrinks even further.
In any case, the billionaire and her longtime husband Paul continue to own a 13,600 sq. ft., Mediterranean-inspired mansion elsewhere in Beverly Hills. Custom built in 2008 by the Guerins, that towering house is just a short walk to the legendary Beverly Hills Hotel and is likely worth nearly $30 million — yes, even in today’s market.
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