Steve Wynn’s Beverly Hills mansion has sold at a massive price reduction.
Located at 1210 Benedict Canyon Drive, the 90210 home sold for $47.75 million on July 26, a dramatic decrease from the original asking price of $110 million in January 2021, according to listing agent Leonard Rabinowitz of Christie’s International Real Estate.
For the past five years, the former Las Vegas casino developer continued to slash the price on the property, discounting it all the way down to $49,995,000 in May.
Rabinowitz said the home was an investment property for Wynn. He said the high-end market in California has “fallen apart,” and high-net-worth individuals are fleeing the state because of taxes.
The 11-bedroom, 27,150-square-foot estate has architecture by William Hablinski, landscapes by Robert Truskowski and interiors by Roger Thomas. It includes amenities fit for a billionaire, such as a wine room, gym, elevator, home theater, tennis court, pool house, and quarters for staff and security, according to the listing.
Wynn originally bought the Beverly Hills mansion in 2015, paying approximately $48 million, and then remodeled it with new landscaping and interiors.
Regardless of the massive price reduction, Rabinowitz said he’d “take (Wynn’s) real estate results any day.”
Wynn resigned as chairman and CEO of Wynn Resorts in 2018 amid accusations of sexual misconduct, which he has denied. Wynn settled a 2019 sexual harassment lawsuit in U.S. District Court filed by nine anonymous women.
Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.
