Steve Wynn Relists Beverly Hills Mansion for $75 Million

Steve Wynn Relists Beverly Hills Mansion for $75 Million.

Billionaire casino and resort magnate Steve Wynn has re-entered the real estate market, listing his Beverly Hills mansion for sale. After nearly ten years of ownership and several price revisions, the expansive 27,000-square-foot residence located in Benedict Canyon is now available for $75 million. Wynn initially acquired the property in 2015 from Guess co-founder Maurice Marciano for $47.85 million, subsequently investing in a significant renovation.

This estate, secured behind gates off Benedict Canyon Drive, offers both seclusion and convenient access to the vibrant center of Beverly Hills. The property's asking price has fluctuated considerably during Wynn's tenure, having been first introduced to the market in 2020 at $135 million, which attracted a notable offer that was ultimately rejected.

By early 2024, the asking price for the property had stabilized at $75 million before increasing to $85 million later that year. Currently, with a renewed effort to sell, the residence is back on the market at the $75 million price point.

Steve Wynn and his wife, Andrea Hissom, are now concentrating on their recent acquisition in West Palm Beach, Florida, which they purchased for $12.9 million, intending to replace the existing structure with a new custom-built mansion. This shift indicates Wynn's eagerness to sell the Beverly Hills estate, which encompasses 2.7 acres—an unusual expanse of land within the city.

The mansion, originally designed by William Hablinski in the 1990s, has been further enhanced by Wynn, who enlisted Roger Thomas to transform its interiors into a showcase of unparalleled luxury. The estate boasts 11 bedrooms, 13 bathrooms, and an array of upscale amenities, including a professional-grade movie theater, a spa suite, a gym, and a temperature-controlled wine cellar.

A grand foyer with double-height ceilings opens into a reception room adorned in crimson, featuring a wet bar, a formal living area with sweeping city views, and a dining room with a fireplace that extends to a covered terrace, ideal for outdoor gatherings.

The master suite features a private office, two bathrooms, and spacious closets. Additional living spaces comprise four guest bedrooms, each with en suite facilities, a fully equipped guest lanai suite, three staff bedrooms sharing a kitchen, and two bedrooms designated for security personnel, complete with a kitchenette.

The estate's outdoor area, meticulously designed by Robert Truskowski, showcases beautifully maintained lawns, artistic gardens, and a swimming pool bordered by a sun deck. Adjacent to the pool, an ivy-covered pool house offers a kitchen and changing facilities, while a lighted tennis court is complemented by an air-conditioned seating area.

Leonard Rabinowitz from Christie’s International Real Estate Southern California, who is handling the listing, has previously emphasized the exceptional nature of such extensive land available in Beverly Hills.

“To find 2.7 acres within the city of Beverly Hills is very rare, so the seller tested the market at the end of 2020 at $135 million and, in fact, received a significant offer,” Rabinowitz said. “However, they had not found a replacement property and, therefore, were not particularly motivated. They have since found a new waterfront property and are quite motivated, hence the reduction.”

In addition to his properties in California and Florida, Wynn retains ownership of a New York penthouse that he has been attempting to sell for several years.

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Furthermore, the casino magnate possesses a four-acre estate in Ketchum, Idaho, which was recently put on the market but has since been withdrawn. Currently, Steve Wynn's net worth stands at $3.7 billion, placing him among the wealthiest individuals in Nevada. He first entered the list of the 400 richest Americans in September 2003, debuting at position 377 with a net worth of $650 million.

Through his company, Wynn Resorts, he has managed the construction and development of numerous luxury resorts, including the opening of Wynn Las Vegas in 2005, Wynn Macau in 2006, Encore Las Vegas in 2008, and Encore at Wynn Macau in 2010.