The biggest million dollar real estate price drops ....
Mega mansions often come with mega price tags, but more times than not the selling price doesn't quite match the market price. These four properties have collectively lost an astonishing 1,284,500,000
THE MOUNTAIN -$999 MILLION
Towering over the bustling city of Los Angeles “The Mountain” as it is affectionately called is a 157-acre mountain plot seated on the highest peak in Beverley Hills.
Originally listed for a whopping $1billion price tag in 2018 " The Mountain" located off Benedict Canyon, has a somewhat chequered past resulting in the plot effectively being sold at a recent auction for just $100,000.
LE PALAIS ROYAL -$116,5 MILLION
Before the Billionaire Mansion (see below) Le Palais Royal a mega-mansion modeled after the Palace of Versailles was America's most expensive mansion. Situated in Hillsboro Beach, Florida
First listed for $159million in 2014 the main house has a 30-car subterranean garage, 11 bedrooms and 22 baths, which include three master suites and a presidential room with a plunge pool on its outdoor terrace. There is also a 180-seat IMAX home theater with a 50-foot-wide screen, an ice-skating rink, go-kart track, nightclub and a bowling alley
Following no takers the re-named mansion Playa Vista Isle was sold at auction in 2019 for just $42.5million
BILLIONAIRE -$100 MILLION PRICE DROP
Once proclaimed as the world's most expensive home priced at $250million this stunning home in Los Angeles first hit the market back in 2017.
Curated for the ultimate billionaire this impressive 4-storey mega-mansion comes awash with every conceivable amenity for luxury living and entertaining, the 38,000-square-foot manse has two master suites, ten large VIP guest suites, 21 luxury baths, three gourmet kitchens, five bars, a massage studio and wellness spa and a state-of-the-art fitness center. Developer Makowsky studied land from the ground and air until he found the perfect spot in the hills of Bel Air with a 270-degree view reaching from the San Gabriel Mountains to the Pacific Ocean beaches of Malibu
However despite all its amenities the property has failed to sell and was reduced by $100million in early 2019 and still remains on the market.
NEVERLAND -$69MILLION PRICE DROP
Micheal Jackson's 22,700-acre Neverland Ranch which boasts a main residence with five bedrooms and eight bathrooms, two guesthouses, a four-acre lake, a 50-seat movie theater, a tennis court, a 14-foot lagoon-style pool, a dance studio, barns, and separate staff facilities was originally listed for $100 million back in 2015, but after two years of languishing on the real estate shelf the property was reduced to $65 million in 2017.
Most recently the property has been reduced further to $31 million
