William Randolph Heart’s Los Angeles mega-mansion that’s appeared in the iconic movie The Godfather and several of Beyoncé’s music videos is poised to sell for almost $50million after being on and off the market since 2007.
The longtime current property owner Leonard Ross has accepted an offer of $47million, but that potential buyer could be outbid at an auction for the property scheduled for September 14.
Ross bought the estate for less than $2million more than 40 years ago. At its highest price, the house was listed for a whopping $195million in 2016.
The 29,000-square-foot Spanish-style home is poised to sell for $47million, down from the asking price of $195million
The home is built with extremely high ceilings – a 22-foot ceiling in the living room is hand-painted
An Olympic-sized pool is in the backyard and has appeared in Beyoncé’s Mood 4 Eva music video
The property has several fountains surrounded by lush greenery and bright flowers, including one in the driveway
In 2019, Ross filed for chapter 11 bankruptcy on the Fortress Investment Group, limited-liability company that owns the property, to avoid a foreclosure auction.
The property, called Beverly Home, was listed for almost $90million in April 2020 after he was appointed a bankruptcy administrator to sell it on behalf of Fortress, the Wall Street Journal reported.
Fortress reported that it owed over $70million in unpaid loans and interest on the house. The asking price has since dropped to $69.95million.
Property taxes and maintenance might be factors in the dipping price and why the house has been difficult to move. Beachamp Estates, a UK-based brokerage company, estimated only 20 international families could buy and maintain the home, making this the most expensive home in the US.
The pink stucco house was designed in 1926 by Hoover Dam architect Gordon Kaufmann and sits on 3.5 acres of property with eight bedrooms, 15 baths and a four-car garage
The house, known as Beverly Home or as the Hearst Estate, has many living spaces available and can accommodate up to 1,000 guests
With wide windows and high ceilings, there is plenty of natural light in the legendary LA home
The property also has a bar, billiards room, an art-deco style nightclub, two projection and screening rooms, grand state public rooms, and entertainment areas
The 29,000-square-foot Spanish-style estate has eight bedrooms, 15 baths and a four-car garage on 3.5 acres of land. The house is adorned with high ceilings, an Olympic-sized pool and multiple fountains.
Built in 1926, the estate was designed by Gordon Kaufmann, the English-born American architect behind the Hoover Dam.
It has opulent living spaces including a formal living room set under a soaring 22-foot arched hand-painted ceiling.
The home has a two-story wood-paneled library, as well as a billiards room that features a fireplace reminiscent of Hearst Castle.
Some of the more outlandish features of the home are its very own Art Deco-style nightclub, two projection and screening rooms, grand state public rooms, and entertaining areas that can accommodate up to 1,000 guests.
To complement the extravagant main house, the 3.5-acre property also includes two staff or guest apartments, a pool house, a tennis pavilion, and a two-story five-bedroom gatehouse.
The lush private grounds include sun-soaked terraces, lawns and waterfalls.
The 1972 film The Godfather filmed scenes at the Hearst Estate. The house was featured in one of the more famous scenes in which Don Corleone puts a severed horse’s head in the bed of one of his enemies
A Beyoncé favorite: The Hearst Estate has appeared in multiple Beyoncé videos, including Mood 4 Eva (pictured) and Black Is King
Former President John F Kennedy and his wife, Jacqueline Kennedy, honeymooned at the house after their wedding in 1953
The house has been home to many creative projects, including scenes from The Godfather, and Beyoncé’s Mood 4 Eva music video and Black Is King film.
It has housed many famous guests, including its previous owner, newspaper publisher William Randolph Hearst. John F. Kennedy and his wife, Jacqueline Kennedy, stayed there during their honeymoon.
After Hearst died in 1951, the property title went into his lover Marion Davies’ name. The house was bequeathed to the Ziegfeld Follies headliner, according to Forbes.
The billiards room features a fireplace reminiscent of Hearst Castle, another property – and historical location – owned by previous owner William Randolph Hearst
The property has a tennis court and a basketball hoop surrounded by trees for guests and occupants
The current owner Leonard Ross has been trying to sell the property on and off since 2007. He filed for bankruptcy in 2011 and owes almost $70million in unpaid loans and interest on the house
While Hearst owned the home until his death, he lived with his long-time lover Marion Davies. The house was titled to the Ziegfeld Follies headliner after his death in 1951
The lavish life of media mogul William Randolph Hearst
William Randolph Hearst (pictured) was born into wealth and built a publishing empire on the back of his own father
William Randolph Hearst was born into wealth and built a publishing empire on the back of his own father, who gave him control of The San Francisco Examiner in 1867.
Hearst then moved to New York, where he found great success thanks to his brand of sensationalizing stories, a practice which came to be called ‘yellow journalism.’
He soon owned 30 newspapers around the country, and successfully ran for a seat in the US House of Representatives.
He was hit hard by The Great Depression however, and died with little money, but never sold his holdings.
Once put in good hands, Hearst grew into a multibillion-dollar corporation that has provided his heirs millions of dollars a year.
Hearst Castle, which was built from 1919 to 1947, is now a National Historic Landmark. The estate was designed by renowned architect Julia Morgan over the span of 28 years.
Media mogul William Randolph Hearst had commissioned the lavish castle but died soon after its completion.
He did, however, get to enjoy the mansion because it was functional during its nearly three decade long construction. Hearst famously played host to many decadent parties in the mansion before his death in 1951.
The castle had its heyday in the 1920s and 1930s with Hollywood stars flocking to the grounds to rub shoulders with politicians for the outrageous parties thrown by its powerful and influential owner.