When luxury homes are listed and fail to attract buyers, many sellers will cut the price. However, British music icon Rod Stewart is taking a different approach on his Los Angeles-area estate.
According to Mansion Global, Stewart listed his 33,000-square-foot mansion in June for $70 million. Now, he upped the price to $80 million. According to listing agent Tomer Fridman of the Fridman Group International, “privacy and recent record-breaking sales in Beverly Park validate the price increase.” said listing agent Tomer Fridman of the Fridman Group International.
Beverly Park is an enclave within Beverly Hills and some of Stewart’s neighbors include Denzel Washington, Justin Bieber and Barry Bonds. A new arrival to the area another British music star, Adele, who moved there in June after buying Sylvester Stallone’s home for $58 million.
Stewart acquired the nearly three-acre property in 1991 for $12 million and had his residence designed by prominent architect Richard Landry to resemble a European chateau, complete with marble floors, crystal chandeliers and a formal dining room that can seat up to 20 people. Also included are a three-story guesthouse with its own gym – the main residence also has a gym – a fully-lit soccer field.
