Beverly Hills Mansion Hits Market With $129 Million Price Tag

By Douglas A. McIntyre Updated Jan 12, 1:25PM EST · Published Apr 1, 8:20AM EDT

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Beverly Hills Mansion Hits Market With $129 Million Price Tag — © Thinkstock

[cnxvideo id=”655379″ placement=”ros”]A huge Beverley Hills home has hit the market with a $129 million price tag. The price is $66 million less than where it was previously listed.

According to Realtor.com, 9505 Lania Lane sits on 25 acres, has 12 bedrooms and has 16 full and seven half-baths. It is built in 2002, and the listing makes a case for the price tag:

Once in a lifetime, an estate of such distinction becomes available. A palatial Mediterranean minutes from the heart of Beverly Hills, Palazzo di Amore sits on a rare approx. 25 acre promontory with panoramic city-to-ocean views. The prestigious residence embodies both majesty and family. Outstanding amenities include: quarter-mile, tree-lined private drive, waterfall, luxuriant gardens, sparkling pools. Colonnaded dining room with wine tasting room, grand chef’s kitchen, approx. 10,000-bottle temp controlled wine storage, large tasting room, unrivaled master suite, Moroccan retreat, Turkish-style spa. Guest house, gorgeous terraced acreage, producing vineyards, pool, spa, tennis court & pavilion, reflecting pool, fountain, state-of-the-art entertainment complex with stage, theater, ballroom, bowling alley. Entertain in true luxury and sophisticated beauty. Bring your most discerning clients to reimagine this majestic estate in all its cosmopolitan grandeur.

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Beverly Hills is one of the wealthiest cities in America. According to the Census, it has 34,869 residents, which is barely changed since 1970. Just over 84% of the residents are white. The median household income of $86,141 is well above the national average. The poverty rate is 8.8%, well below the national average.

Four of the 10 largest employers in Beverly Hills are hotels. Saks Fifth Avenue is another.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.