One of the latest notable figures to fall victim to the luxury real estate slump is boxing legend Sugar Ray Leonard. The retired champ has slashed the price of his mansion in the Pacific Palisades by some $4 million. Now, the asking price sits at just under $40 million, a discount of some 9% compared to what he was initially seeking earlier this year.
Leonard has actually been trying to sell the place for years, and it's been on and off the market at different prices. Back in August of 2019, Leonard put the home where he and his wife have lived for many years for sale with an asking price of $52 million. Then, last year, that asking price was cut down to $45 million. And now it's sitting at $39.995 million.
The eight-bedroom home is even being referred to as "the Leonard Estate," possibly an attempt to sweeten the pot for any boxing fans out there. Here's how it's described in its official listing:
"The Leonard Estate. The most important legacy property on the Westside. Available once in a generation. Over 1.7 acres of exquisite grounds, makes this one of the largest lots in the Riviera. Perfect for raising a family and enjoying ample place to play and enjoy. Complete privacy behind large gates and hedges ensures ultimate security. Designed by world-renowned architect, Richard Landry, the Leonard Estate was a custom vision created with only the finest materials. Beautiful Italian Architecture inspired by Florentine villas, totaling over 16,700 square feet in the main house. Perfect for entertaining on a grand scale, features include: 2-story family room, gorgeous formal living room and dining room, screening room, gourmet kitchen and solarium. Total of 7 bedrooms, the main suite is the ultimate retreat with views of the ocean and mountains. Grounds include: long private driveway, large entry motor court, full guest house, lit tennis court with viewing area, sun-drenched oval pool, grass meadow/lawn and putting green. A world-class estate on the finest street in the Palisades Riviera. The Legend Continues…."
Ideally, the Legend will find a buyer at this new discounted price point sometime in the near future. For now, you can check out the Leonard Estate in the video below from the Tomer Fridman YouTube channel:
