Introduction to the Dubrow’s Sale
Reality TV stars Heather and Terry Dubrow sold their Beverly Hills estate for $16.5 million, a 34 percent discount from what “The Real Housewives of Orange County” couple first sought for the home.
The Dubrows placed 1501 Tower Grove on the market in March for $25 million. It was most recently reduced to just under $20 million in May.
The Sale Details
Compass’ Josh Flagg and Douglas Elliman’s Josh Altman represented the Dubrows. Sotheby’s International Realty’s Christina Pope and Forward Luxury Estates’ Gary Reavis represented the buyer, who sources say is from overseas.
The Dubrows bought the property in 2023 for a reported $16 million from a trust tied to the late filmmaker Martha De Laurentiis. De Laurentiis had lived in the home with her late husband and film producer Dino De Laurentiis.
Property Features
The nearly 9,000-square-foot mansion has five bedrooms and nine bathrooms, perched high above Beverly Hills. Designed in the French Normandy-style, the home sits on an over 6-acre lot with a tennis court, multiple outdoor dining and entertainment areas, pool, spa and terrace, according to the listing.
Market Trends
While luxury real estate is trading within the county, several high-profile closings have missed the mark when it comes to getting close to the original ask.
Actor Jim Carrey had been trying to sell his Brentwood home since 2023 and finally closed on a buyer for it last week. He sold the property for $17 million, or about a 41 percent discount from the original ask. Gene Simmons’ pad sold for $28 million, which is about 42 percent off from what the home was first listed for in 2023. Spelling Manor, which is now tied for one of the county’s priciest deals this year, sold for $110 million after first being listed for $165 million in 2022.
Analysis of the Sale
To be fair, some of it could have been overpriced to begin with. Berkshire Hathaway HomeServices California Properties’ Todd Marks, who represented the buyer of Simmons’ former pad — a local industrial developer — said as much at the time of that deal’s closing. Marks told The Real Deal the closing price was more in line with the property’s value than the original ask, with the difference between the two not necessarily a knock on the broader market.
Related News
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Heather and Terry Dubrow sell Newport Beach “chateau” for $55M
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Conclusion
The sale of the Dubrow’s Beverly Hills estate for $16.5 million, after being initially listed for $25 million, highlights the challenges of pricing luxury real estate. The significant discount from the original ask underscores the importance of accurate pricing in the luxury market.
FAQs
Q: How much did the Dubrows sell their Beverly Hills estate for?
A: The Dubrows sold their Beverly Hills estate for $16.5 million.
Q: What was the original asking price of the property?
A: The original asking price was $25 million.
Q: Who represented the Dubrows in the sale?
A: Compass’ Josh Flagg and Douglas Elliman’s Josh Altman represented the Dubrows.
Q: What is the size of the mansion?
A: The nearly 9,000-square-foot mansion has five bedrooms and nine bathrooms.
