The Agency CEO Mauricio Umansky discusses the real estate sector as mortgage rates hit a 28-year low, down 5.7%.
Sir Rod Stewart has reason to believe his Beverly Hills mansion is worth a lot more than he was asking for.
The “Maggie May” singer initially placed the Beverly Park manor on the market for $70 million this past summer, and just last week he raised the listing price to a cool $80 million.
Stewart first purchased the three-acre property in 1991 for $12 million and then commissioned famed architect Richard Landry to design the nine-bedroom, 14-bath mansion nestled in the affluent North Beverly Park enclave above the Hollywood Hills.
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Rod Stewart won’t budge on the listing price of his estate. (Ryan Lahiff / Fox News)
Rod Stewart re-listed his Beverly Park mansion for $80 million. (Anthony Barcelo / Fox News)
Stewart kicks off a new tour in early 2024 with stops in the States before heading to Asia and then Europe. He lands back in Las Vegas in July for The Hits residency at The Colosseum at Caesars Palace. He denied recent reports from the summer that he said L.A. was “toxic.”
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“Let me get one thing straight here. [The press] quoted me saying Los Angeles was toxic. It’s not toxic,” he said. “It might be to other people, but I’ve had some of my best fun and years in Los Angeles. But L.A. is not toxic. Sometimes the air’s a bit dirty, but I love L.A.”
When Stewart put the property up for sale, he told People magazine that he “won’t take a penny under what I’ve asked for.”
“Basically, I don’t want to sell it, and the kids don’t want me to sell it either,” he said. “There’s too many fond memories. I’ve lived [in L.A.] since 1975, and I adore the place.”
Rod Stewart doesn’t want to sell his Beverly Hills mansion. (Anthony Barcelo)
Privacy was paramount for the “Forever Young” singer, with a guarded gate at the entrance to the neighborhood and another set of double gates situated at the long driveway that leads to the ornate abode.
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Overlooking manicured landscaping, the three-story, 28,500-square-foot home is framed with opulent double doors that open into a grand foyer, exuding a sense of refined luxury.
Hosting large parties and events or intimate soirées was made easy in the entertainer’s dream home, with wood inlay floors and a hand-painted bar that includes French doors leading out to covered loggia.
Stewart initially listed the home for $70 million earlier this summer. (Anthony Barcelo / Fox News)
The airy, gourmet kitchen was designed to provide room for catering or casual dining, and in true English fashion, has two sitting rooms to either side: one for tea and another den with a fireplace.
Wine aficionados can keep their reds or whites at the perfect temperature in the wine room, which is conveniently situated near the formal dining room designed to comfortably entertain 20 guests.
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A formal library showcases floor-to-ceiling wood bookshelves and a marble fireplace, which leads into a designer speakeasy with dramatic Breche de Vendome marble and wood floors, and there’s an over-sized screening room.
Stewart purchased the plot in the ’90s and had Richard Landry design the home. (Anthony Barcelo)
The estate “exudes ageless elegance and unmatched opulence.” (Anthony Barcelo / Fox News)
The theater also opens up into a private outdoor seating and lawn area, which includes a 30-foot tall cascading waterfall fountain.
A double staircase leads to private quarters, including the primary bedroom suite with dual bathrooms, massive closets and a large covered terrace overlooking the pool. Serene views of the city and canyons can be seen throughout the home.
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Each guest suite is complete with luxury amenities, including oversized bathrooms, closets and some rooms with their own private terraces.
Two full-size gyms are on the property, including an indoor recreational room, tennis court and soccer field.
“Beverly Park is the ideal haven for celebs and high profile residents,” agent Tomer Fridman of the Fridman Group told Fox News Digital. “It really is the perfect retreat as it offers unrivaled solitude and privacy in large, open spaces that suit homeowners who want enough space to live large and opulently without sacrificing privacy.”
Stewart entertained throughout the home, including at the bar. (Anthony Barcelo)
Outdoor entertainment is made easy with lounge areas that surround the pool and jetted spa. A built-in barbecue near an outdoor fireplace provides even more reason to dine al fresco under the stars.
Stewart’s mega mansion also includes a massive motor court and five-car garage in addition to a four-bedroom, five-bath guest house.
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The Fridman Group International holds the listing.
The “You’re in My Heart” singer is married to Penny Lancaster and has eight children.
