BEVERLY HILLS, Calif. – (Realty News Report) – The historic Hearst Estate, whose exterior appeared in the film “The Godfather,” has sold at a courtroom auction for $63.1 million.
Bidding began at $48 million and advanced in $100,000 increments until billionaire investor and philanthropist Nicolas Berggruen emerged as the winning bidder.
Often dubbed the “homeless billionaire” by the press because he previously maintained no single permanent residence and lived a frequent-traveler lifestyle, Berggruen now takes ownership of a substantial Beverly Hills property: a 29,000-square-foot estate on a large, private lot.
The nine-bedroom mansion was once the home of newspaper magnate William Randolph Hearst and later served as the honeymoon retreat for Jacqueline (née Bouvier) and John F. Kennedy.
Beverly Hills Drive near Sunset Boulevard
The salmon-pink Hearst Estate was constructed in 1926 and occupies about 3.5 acres on North Beverly Hills Drive, three blocks north of Sunset Boulevard. The main residence includes 15 bathrooms and is supported by roughly 7,000 square feet of auxiliary structures.
Outbuildings on the property consist of two staff or guest apartments, a pool house, a tennis pavilion, and a two-story gatehouse with five bedrooms.
15 Bathrooms, a Tennis Pavilion and a Very Long Driveway
Set at the end of one of Beverly Hills’ longest private driveways, the Mediterranean-style estate was designed by architect Gordon Kaufman. Interior highlights include a formal living room with a 22-foot arched, hand-painted ceiling; a two-story wood-paneled library; and a billiards room with herringbone parquet floors that features a fireplace removed from Hearst Castle. The mansion and its grounds are arranged to host large-scale events, with capacity to entertain up to 1,000 guests.
“The Hearst Estate is anchored in American legend and is a one-of-a-kind home that is truly a spectacular property,” said Los Angeles real estate agent Anthony Marguleas of Amalfi Estates. Marguleas describes the Hearst mansion as one of the city’s most iconic homes.
Amalfi Estates marketed the property in collaboration with Gary Gold of Hilton & Hyland and Zizi Pak and John Gould of Rodeo Realty.
The estate was listed for 162 days. During that period it drew 71 inquiries, 41 private showings and 12 written offers, and attracted five overbidders at the federal courthouse auction in Los Angeles.
Although the mansion’s exterior appears in The Godfather, interior scenes were filmed at a different location on Long Island, New York, including the infamous scene featuring a horse’s head.
Sept. 15, 2021 Realty News Report Copyright 2021
Photo credit: Jim Bartsch
Note: This article originally appeared on Realty News Report. Background information about the estate’s history and architectural features is based on the property listing and public records available at the time of sale.
File: Hearst Mansion Sold at Auction to Nicolas Berggruen