A Beverly Park mansion where Prince lived as a renter in 2008 has been cut by $13.5 million after first hitting the market at $68 million earlier this year; the estate sits on two acres in a gated enclave that has attracted residents such as Sylvester Stallone and Mark Wahlberg

Not every home in Los Angeles has a famous name. But this one does. The sprawling estate at 77 Beverly Park Lane, where Prince once lived, is on the market for $54.5 million after a $13.5 million price cut, Mansion Global reported. The megamansion was initially listed for $68 million, according to The Real Deal.

A home with a famous tenant

Pic credit: Zillow

The house sits at 77 Beverly Park Lane on two flat acres inside a guard-gated community. The late singer, né Prince Rogers Nelson, reportedly lived in the property and recorded there between 2008 and 2009, according to the outlet. The property was owned by an entity linked to Vanna White’s ex-husband, developer George Santopietro. He built the mansion in 2010. However, the mansion was built in 2007, according to its listing on Zillow. Branden Williams and Rayni Williams of The Beverly Hills Estates have listed the property.

Inside the megamansion

Pic credit: Zillow

The megamansion sits on what the listing describes as “the most prolific property in Beverly Park”. It adds: “A dramatic arrival unfolds into interiors defined by soaring ceilings, refined architectural detail, expansive volumes, and millions spent on stones and finishes sourced from around the world. Walls of glass frame the surrounding landscape, filling the home with natural light and seamlessly connecting indoor living with the estate’s outdoor spaces.”

Pic credit: Zillow

The mansion spans 27,000 sq ft and has nine bedrooms and 15 bathrooms. The house is built for grand-scale entertaining, with a multimillion-dollar private theatre and an extraordinary wine cellar. It also comes with a gym and parking for more than 50 cars. The grounds are just as striking. The landscaping was designed by the renowned landscape designer behind San Ysidro Ranch. “Resort-calibre grounds showcase manicured lawns, lush rose and vegetable gardens, and entertaining terraces with multiple fire pits, an outdoor kitchen, pizza oven, grills, and dining areas, creating a private oasis,” the listing says.

Pic credit: Zillow

Beverly Park has long attracted people who value wealth and privacy. Sylvester Stallone lived there, and Adele bought his former estate in 2020 for $58 million. Mark Wahlberg also owned a home in the enclave. Paris Hilton and her husband, Carter Reum, bought that property last year.

Pic credit: Zillow

The megamansion first hit the market in April for $68 million. That was a high figure even for this neighbourhood. Other sellers on the same street have learnt the same lesson. In 2022, Villa Firenze came down by about $41 million from an asking price of $120 million, while Wahlberg cut his own asking price from $87.5 million to $79.5 million that same year.Those cuts suggest buyers in this enclave are willing to pay top dollar, but only for a home that matches recent sales. However, the Prince connection adds historical significance to the listing. The recent discount might also attract more interest from potential buyers.