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Beverly Hills’ Hearst Mansion – Once Priced At $195 Million – Sells For $47 Million!

Someone out there got one heck of a bargain on the iconic and historic Hearst Mansion in Los Angeles. The renowned estate, which was once asking for $195 million, just sold for $47 million.

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The 29,000 square foot main mansion has nine bedrooms, 15 bathrooms, an art-deco nightclub, two screening rooms, a two-story wood-paneled library, and a billiards room with a spectacular fireplace. Because of the estate’s size, its residents could host a party for 1,000 guests without feeling crowded.

Leonard Ross, an attorney, most recently owned the Hearst Mansion. Ross has intermittently tried to sell the home since 2007. He bought the property roughly 40 years ago for $2 million. He listed it for $195 million when he first listed it.

Ross allegedly failed to make payments on loans and interest totaling more than $70.9 million made by Fortress Investment Group, which prompted the bankruptcy court to name an administrator to sell the property. In April, it was listed for $89.75 million. In June, it was reduced to $69.95 million.

Whoever the buyer is, they will receive a fantastic deal on a stunning estate with a colorful past.