Ricky Martin’s former Beverly Hills estate sells for $35m after major price cuts
A historic Beverly Hills estate, previously owned by celebrities like Ricky Martin and Michael Caine, has sold for $35 million. The property saw a significant price reduction from its initial $75 million listing price after failing to attract buyers.
Why it matters
The sale reflects broader trends in the luxury real estate market, where high-end properties are facing price corrections despite historical prestige.
The massive Beverly Hills mansion that was once owned by Michael Caine and Ricky Martin has found a buyer after being listed for four months. The deal for the Benedict Canyon estate was closed for $35 million after a huge discount, according to a report by Realtor.com. The buyer has not been identified. Carl Gambino of the Gambino Group at Compass represented both sides of the sale. The specifics of the sale are not available.Doris Day's family, then Caine, then MartinBuilt in 1956, the Tuscan-style residence sits on 2.37 acres in the Benedict Canyon neighbourhood. The ‘legendary’ Beverly Hills mansion has had many owners since. Doris Day’s family lived in the mansion for several years before it passed to Michael Caine, who is now 92.
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