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Can Ryan Seacrest Host an $85M Sale for His Beverly Hills Home?

Can Ryan Seacrest Host an $85M Sale for His Beverly Hills Home?

The TV host Ryan Seacrest has placed his Beverly Hills compound on the market for the eye-watering price tag of $85 million, People reported.

While it doesn’t cross the threshold into nine-digit territory, this price point is tied at third place in the current ranking of most expensive homes in the 90210.

Will the popular personality be able to say “Seacrest Out” at the current price? We checked in with some local luxury agents to see what they had to say.

Ties back to Ellen

In 2012, the host of “American Idol” picked up the spread from his fellow A-lister Ellen DeGeneres, for $36.5 million. The talk show host had expanded by adding adjacent properties over the years she lived there. She replaced one house with a picturesque pond and trees.

The main home on this premium parcel was owned by the co-creator of “Will & Grace,” Max Mutchnick, according to the Hollywood Reporter. He sold it to DeGeneres in 2007 for $29 million.

The single-story main residence was originally built by the noted architects Buff & Hensman in the 1960s for the actor Laurence Harvey, according to a 2011 feature in Architectural Digest.

Once DeGeneres took ownership, she and her wife, Portia De Rossi, proceeded to work their remodeling magic, then placed the expanded spread on the market in 2011, with an ambitious, $60 million price tag.

Despite its newly renovated look and the posh neighborhood, the mansion failed to entice a buyer. The price was slashed to $49 million before the longtime “American Idol” host swooped in and scored an even sweeter deal.

According to recent reports, Seacrest has decided to relocate to New York, where he films “Live With Kelly and Ryan” with his co-host, Kelly Ripa. Since he snagged the plum daytime job, he’s been splitting his time between the two coasts, while reportedly living in a rented townhouse in NYC.

Updating the New York space to suit his tastes hasn’t been without drama, according to the gossip wags at OK magazine. However, he may be eyeing a buy in the Big Apple—especially if he manages to pass on his West Coast digs.

A compound like no other?

Built in 1963, the 3-acre property is described as one of the area’s “most private and secluded estates.”

The seven bedrooms and 10 bathrooms are spread on a sprawling 9,000-square-foot compound, composed of a four-bedroom main house, two guesthouses, and a pool and poolhouse with a separate fitness facility and underground garage.

Inside, the open and airy living space features a vaulted and exposed beam ceiling, a formal dining room, and a family room and adjacent kitchen that open onto the patio.

Details include a wet bar, media room, an office, as well as a master suite and bath with a floor-to-ceiling window and a gigantic stone tub that looks as if it has organically sprung up from the floor.

The outdoor space features resortlike grounds, outdoor living and dining areas, a reflecting pond, and manicured lawns. The listing notes that the property offers city and ocean views.

Is the $85 million price right?

No doubt, it’s a one-of-a-kind property. But is it worthy of its $85 million price tag?

“I know the house very well! I had actually sold it to Max Mutchnick many, many years ago,” says Myra Nourmand, principal and luxury real estate agent at Nourmand & Associates.

She believes the compound will stay within celebrity hands, but that it may not hit the price target.

“I do think a celebrity might buy it, because it is very private and secluded. It has land and a view, plus it’s redone—and a compound,” she says. “However, I think $85 million is a very aggressive number. Given today’s world, I think it is worth around $65 million to $70 million for 3 acres.”

Even so, there is plenty of precedent for blockbuster deals in the area.

“I’ve toured this property when it was owned by Ellen DeGeneres,” says Ernie Carswell, a top agent at Douglas Elliman. “Both [DeGeneres and Seacrest] likely selected this site because of its extreme privacy within the city of Beverly Hills.”

Carswell adds, “Property like this isn’t easily duplicated.”

He says he thinks Seacrest stands a good chance of fetching a number comparable to the $68 million purchase by David Geffen of a nearby 3.25-acre residence he bought from the entertainment executive Casey Wasserman.

But the potent combo of privacy, celebrity, and property size may give this premium compound a shot at that oh-so-high $85 mil price point.

“I think the main selling point is the privacy and land—which is hard to come by and not readily replaceable,” says Sally Forster Jones, an agent for Compass.

She adds, “Luxury sales have been on the rise since 2012, when Seacrest purchased the property, so it very well may sell near that range.”

 

Source Realtor.com

Written by Claudine Zap

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