Thursday, August 6, 2020 / by Juan Grimaldo
After a 20,000-square-foot Paradise Valley home listed for $23 million back in November 2018 couldn't sell for that price, the owners have lowered the price point.
Now, the house at 7046 N. 59th Place is being listed for $13.99 million — a price the original brokers back in 2018 had suggested was a more realistic price.
The home was featured Aug. 4 on the popular "Million Dollar Listing: Los Angeles" TV program on the Bravo network.
Jean-Michel Edery, a Private Client Group agent for Russ Lyon Sotheby's International Realty, who listed the property for Bill and Char Hubble in late 2018, said he told the Hubbles it would most likely sell for no more than $11 million.
By April 2019, Char Hubble told Edery she listed the property with Tracy Tutor, a real estate agent on Million Dollar Listing Los Angeles.
"She told us no matter who sells it, she's on the listing side at half of what we will get," Edery said.
That's when he walked away from the listing.
Today, Chris Karas with Launch Real Estate is the Arizona real estate broker co-brokering with Tutor.
The property, called Bella Paradiso, is a 20,000-square-foot home at 7046 N. 59th Place. It was originally listed for $22,888,000 because in the Chinese culture, the number eight is considered lucky, said Jean-Michel Edery, a Private Client Group agent for Russ Lyon Sotheby's International Realty, at the time the home was put up for sale.
The Hubbles purchased the Bella Paradiso property in 2011 from Irvin Kessler for a little more than $1 million. The couple tore down the original, smaller structure to build the current mansion in its place in 2013, said Ryan Brault, regional director for Metrostudy's Arizona and Las Vegas market.
Mansion for sale: 7046 N. 59th Place, Paradise Valley
The list price on the property has been cut from nearly $23 million to $14 million.
Originally listed for $23 million back in 2018, the price has been drastically reduced in its latest listing.