Gwen Stefani cuts asking price on her Los Angeles home

The 15k sf home is on the market for $24M, a sharp drop from its first asking price

Rockers Gwen Stefani and Gavin Rossdale’s marriage went south a long time ago, but now there is no doubt they still own a mansion in the 90210 ZIP code.

The 15,500-square-foot home hit the market in 2016 — a short time after the couple divorced — for $35 million. Now it’s on the market with a price cut, for $24 million, according to the Los Angeles Times.

The 31% price chop is not uncommon among luxury listings in L.A. That upper-end market market dropped by the same 31 percent in the first quarter compared to the same period in 2018, according to a recent report.

Some experts have predicted a reset, and away from a trend of what had been “aspirational” pricing.

Stefani and Rossdale’s home was built in 2003 in a gated neighborhood off Mulholland Drive near Franklin Canyon. It has seven bedrooms and seven bathrooms, and includes a tennis court and pool. They paid $13.3 million for it in 2006.

Jade Mills of Coldwell Banker and Craig Knizek of the Agency have the listing. [LAT] — Dennis Lynch 

Source: Therealdeal.com

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