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Monday, June 6, 2011

Forbes Reports Zsa Zsa Gabor’s Estate Officially For Sale Listed for Sale With Christophe Choo at Coldwell Banker Asking $15 Million

Forbes Reports Zsa Zsa Gabor’s Estate Officially For Sale Listed for Sale With Christophe Choo at Coldwell Banker Asking $15 Million

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Zsa Zsa Gabor’s Estate Officially For Sale, Asking $15 Million

Jun. 6 2011 - 5:54 pm | 205 views | 0 recommendations | 0 comments

Well, it’s official. The Zsa Zsa Gabor Estate is finally hitting the sale block after months of rumors and speculation.  The Los Angeles, Calif. property, located in the swank Bel Aire neighborhood, is asking for $15 million.  That price tag is almost 50% less than the $28 million that the Hollywood screen icon and her husband, Frederic Prinz von Anhalt, had initially planned to sell for, according to a January article by the Los Angeles Times.

“I’m not sure where Prinz Frederic and Zsa Zsa came up with that [$28 million] number back a year ago,” says Christophe Choo, the estate’s Coldwell Banker Previews International listing agent.  “Once they called me in as the local expert to list the house, I was very upfront with them and very honest about what I felt the market value really was.”  Gabor and her husband (who received the prince title after being adult-adopted by Princess Marie-Auguste of Anhalt) are ready to sell: the Prinz said earlier this year that the house’s wallet-straining $35,000 a month cost is something they would like to be rid of, particularly in light of Gabor’s flailing health and subsequently steep hospital bills.

The estate officially lists on the Multiple Listing Service tomorrow.  Contrary to earlier rumors, this will be the first time this property has hit the sale block in nearly two decades (the last time, Gabor decided to stay put and pull from the market).  FORBES got first dibs on the listing information as well as property photos, which can be seen in the slide show above.

Sitting behind the uber exclusive East Gate on Bel Air Road, the Gabor Estate is comprised of a 6,393-square foot Hollywood Regency-style house on about one acre of land.   The property touts a staff wing off the house, a pool, a roof top terrace and expansive views of L.A., the Pacific Ocean and Catalina Island.

Gabor, 94, purchased the four bedroom, five bath mansion in the 1970s. She has claimed that both Elvis Presley and Howard Hughes called the place home before she moved in, though Coldwell Bankers Previews says that information has yet to be verified.

The 1955 abode, detailed with French moldings and  French doors, has been the site of countless high-profile parties thrown by the actress-turned-socialite, including a dinner party attended by Queen Elizabeth of England and former First Wife Nancy Reagan.  Gabor, whose health has been waning in recent years, is famous for movies like 1952′s Moulin Rouge and for nine marriages including one to Conrad Hilton, founder of the Hilton Hotels chain.  The house pays homage to her glamorous Tinseltown lifestyle through painted portraits, awards on display, hanging plaques and photos of her posing with countless 20th century royals and presidents.  “It’s like walking through a museum and it’s quite fun to show the house,” gushes Choo.

Even though the house won’t appear on the MLS until tomorrow, the Gabor Estate has hosted several showings already, including one for a European prospective buyer whom has been expressing strong interest. Additionally, the home needs some work, a factor contributing to the lower-than-anticipated price tag.  Choo believes that whoever ultimately purchases the estate will do so with the express purpose of rehabbing and updating the digs rather than tearing them down to build something brand new.

“I would say it needs an overhaul, not in terms of the floor plan or structural changes, but it does need a remodel,” explains Choo. “I think a potential buyer would come in and spend $1 million or so to remodel that house and make it special…and bring it back to its former splendor.”










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Posted on: Beverly Hills Real Estate-Beverly Hills Homes For Sale

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