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In 2019 a $65 Million Price Cut on a Mansion Wasn’t a Big Deal

If you assume it was priced $100 million too high to begin with.

relates to In 2019 a $65 Million Price Cut on a Mansion Wasn’t a Big Deal

Source: Coldwell Banker

In a year when the 10 most expensive homes in the U.S. sold for an average $100 million each, sellers of superluxury properties had reason to be confident. But some were too confident, at least on paper: Many sellers of luxury real estate listed properties for millions of dollars more than their ultimate sales price.

The offering price of a Los Angeles mansion once owned by Tony Curtis, and later Sonny and Cher, has swung radically in the last few years. It’s currently listed for $115 million after being offered at $180 million in 2017, showcasing a price cut of $65 million. According to the Los Angeles Times, it was purchased in 2016 for $90 million. And, after an original asking price of $110 million, a New York City penthouse in the ultraluxury Woolworth Building was relisted earlier this year at $79 million, a 28% cut.