A home previously featured as one of Palos Verdes Patch's Priciest Homes sold for only $750,000 below its asking price, according to real estate blog Curbed LA.
The property at 978 Paseo la Cresta in Palos Verdes Estates, originally listed at $10.5 million, sold for $8.75 million on Sept. 10—exactly two years after it was first put on the market, according to Zillow.
The $10.5 million price tag was dropped to $9.5 million at the end of February of this year, according to Zillow.
"(The property) was on and off the market for years, but the sellers finally unloaded it after a healthy price chop," writes Curbed LA reporter Eve Bachrach.
The "gated private Spanish villa" designed by Edward Giddings included a 5,000-bottle wine cellar, a media room, four bedroom suites, a detached guest room and bath and two detached offices. The 1.05-acre property also featured a private, enclosed pool and a north/south tennis court, according to Zillow.