America's Most Expensive Listing Slices $50 Million From Its Price

America’s most expensive listing cuts $50 million from its price.

After only eight months on the market Chartwell, the most expensive listing in the U.S., has come down in price by $50 million. This is down from its official on-market ask of $245 million, though it had been rumored to be asking as high as $350 million before it officially entered the listing service. Despite its $50 million price reduction, it appears to still be the priciest listing currently on the market. There is a home said to be coming on the market for $500 million, but as yet it has not been listed officially. There was a $250 million property on Bel Air Road, also in Los Angeles, that had most recently come down to $150 million but has since moved off the market without appearing to have sold. This $195 million sale would still beat the current Los Angeles record—a $110 million purchase by Hard Rock Cafe founder Pete Morton. The most expensive sale on record is, of course, billionaire Ken Griffin’s purchase of a New York condo for $238 million earlier this year.

The home dates back to the 1930s when architect Sumner Spaulding took on the task of designing the 25,000 square foot main house out of symmetrically cut limestone. It boasts a total of 11 bedrooms and 18 bathrooms across all the buildings, which includes at least one 5-bedroom guest house (designed by Wallace Neff) and a pool house near the 75-foot pool. The house has already had its time in the spotlight before rising to the upper echelons of U.S. real estate by being used in the opening credits of The Beverly Hillbillies television show.

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