Billionaire Steve Wynn's Beverly Hills estate sells for $47.75M after five years on the market

Image Credit: Instagram/ @mansionglobal For more than five years, billionaire casino developer Steve Wynn searched for a buyer for his lavish Beverly Hills mansion. According to sfgate, once quietly marketed for as much as $135 million, the estate has reportedly sold for $47.75 million, bringing to a close one of the longest-running sales stories in Los Angeles' ultra-luxury real estate market.The property, known as Villa Lulu, spans approximately 27,000 square feet and sits on around 2.7 acres in the prestigious Beverly Hills neighbourhood. Wynn originally purchased the estate in 2015 for $47.85 million and later invested heavily in expanding and renovating the home, transforming it into a grand contemporary estate designed for luxury living.A years-long search for the right buyerThe path of the mansion to sell successfully was far from smooth sailing. After the renovations were done, the property was sold by private listing before it went on public listing in 2021 at $110 million. There have been times when the asking price increased to $125 million due to expectations of fetching high prices in the market.However, as the years passed without a buyer, the price was gradually redu...