Zedd Can't Sell his $20M Beverly Hills Mansion
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- Опубліковано 27 лис 2022
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The world famous DJ Zedd has been trying to sell his luxury beverly hills mega mansion for over a year now, and he is not getting any bites. He started at a price close to $30 million, and has since reduced the price by $8 million to $18,499,000. As a man who is worth around $50 million dollars as of the last report, this shouldn't be the most stressful thing for Zedd. But the issue is that he already has bought a new home for himself in Encino Calfornia. This one he bought from Joe Jonas for around $15 million. In today's episode we review this mega mansion listing together, we check out Zedd's awesome contemporary homes, and we look at Zillow for other homes for sale in Beverly Hills.
I hope that you enjoy this video and if you have comments please leave them below! See you next video!
-Scott
#zedd
Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. Opinions shared in these videos are my personal opinion and are for entertainment purposes only. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.
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He has no amenities and the kitchen is nowhere near the price of a $25 million house. The only amenity he has in the house is a theater. They have houses for that price that have Saunas and hot tubs and all that in it. No, he doesn't have any of that. I've been looking at houses for five years. No The price of that house, which is likely how much he paid, is somewhere around 10 to $15 million.
It's just plain jane. It's a white box, and that's not the style today. You need something interesting to the space.
The location isn’t ideal. Industry people want to live near Sunset Boulevard to get to studios quickly. For this price point, most people in the industry would rather live in the Bird Streets or Trousdale.
@@hothotheat3000 Supply and demand, baby. The fact of the matter is that the bird streets or trousdale should have adapted to higher density instead of building bigger and bigger single-family houses.
This is how many people get scammed by this so called relators I bet all that price increase made a good deal for a few millions the buys is the ones who’s always screwed
You have to be able to pressure wash all the cum and sex sauce off of the walls and floors...duh.
He actually lost money. He bought the house for 16 million but if you see the house tour that he did with the architectural UA-cam channel where he toured the house and explained that he was spending money adding things to the house. And was having construction or remodel on it
Him loosing a small change in money compared to him isn’t doing any damage
How is he losing money if his assets makes it back…you can’t always make money there will be always be one thing that will hammer you once in a while
You guys are forgetting that you can also write off the depreciation of most of these homes with taxes
Yes i remember that episode
Skill issue
What he fails to realize, is that someone else can purchase one of the other lots around that area,have the house built and it’ll still be less than what he is trying to get for his home now. He’s gonna end up losing a lot more money, he’s going to sell it for under what he purchased it for. But he doesn’t have anyone in his inner circle to let him know this. He probably just has a bunch of yes men and women. Which tends to happen around people of this caliber.
Zedd had one of the best AD tours I've seen, I'm surprised it couldn't sell.
I had a friend a few years ago. He was able to sell his home in the worst housing market. I asked him how did you sell it ? He said "its really easy. I just kept dropping the price until it sold."
Lol. Yep that's one way to do it.
Bad investment in a house is so expensive in a neighborhood with so many inexpensive options.
Love these kinds of videos
One of my favroite homes in the area, AD did a great tour of it in 2018. I hope he can unload it but with a down market and migration to cali of high net worth individuals slowing its unlikely he will turn a profit.
The house has so many amenities that were left unmentioned. AD and Zedd gave a tour of the property, it’s dope.
For sure... I trim these videos up a lot so they don't end up being 20+ mins. It's always tough a tough call what details to cover and what details to leave out.
@@Real.Estate.Report I like your channel, and the way you engage with your audience as cool. New subscriber my guyyy
I disagree with most comments. This house sits on a big lot in bhpo and has nice (though not the best) views. Normally it is definitely worth 20m. The only reason that it doesn't sell is that it has a hidden problem, which is probably the reason Zedd wants to sell and his first buyer backed out
By a hidden problem do you mean a defect with the house like a foundation issue or something? Could be the case...
I agree. This house in this area would definitely sell for 20 Million. There must be something like 1. privacy issues 2. not enough separation between personal employees and personal space or 3. new houses build around or planned to be build around this one which either destroy the views or privacy.
The house is on the top of the hill which always increases the value. But there are 2 houses on the same level. Maybe even slightly higher, but old and small. My estimate is that one of these is gonna be turned down and there will be another mansion soon. So you have construction for a couple of years and a mansion that is bigger than yours and people living there can look into your bathroom. Same happened to 1201 Laurel Way.
@@Real.Estate.Report No idea what the problem is :) But I doubt it is a foundation issue because the lot is pretty flat and at this level such issue should be easily fixable. I think what @Moons_mooniverse said makes a lot of sense.
The house is sinking. It has a deep foundation issue. The location where it's located it's extremely overdeveloped and that has effected the land in ways the human eyes can't see. It's not just these types of houses that fail a great inspector's lookover. And with these prices the inspectors are the best at what they do. This is the reason this house and many houses like it will struggle to find buyers. He has to eat the loss.
gorgeous eames chair right there
LOVE YOUR CONTENT !!
Thank you! I’ll keep the videos coming!
Great video Scott
Thanks Yuri!
Better to own the cheapest home in the neighborhood vs the most expensive... neighbors dragging Zedds home price down.
The chair is an Eames Lounge Chair. A mid 50’s classic
that house is amazing. It's my dream home, i'll wait the price drop a bit more before buying it....
the new house sucks
oh and btw, don't count on interest rates going down. it's slowing down of the climb, not reversing. one fed member said we are going to 5-7% which means a 30 year loan of 8-10%. Powell is speaking tomorrow and then fed rate meeting december 14th where I expect we'll get a 0.5% hike and that wont be the top either. I suspect the next 3 months will be down turn, maybe 6 months and that's probably going to chill the real estate market too although no real panic yet. it may not result in huge price drops but it might. maybe 20-30% off the price of houses above 10 mill, maybe more for above 25 mill.
I will say one of the reason I like your content is that we both like the same style of architecture and furniture design. Those Eames Lounge Chairs have always been high on my list of a chair to own one day along with the Womb Chair. I have the DCM's in my dining room but those lounge chair are a big $ purchase. Cheers!
Yeah they are super expensive. I love the womb chairs too. We definitely have similar taste!
Architectural Digest has a whole video on this specific house with Zedd doing the tour.
The chair is called Eames Lounge Chair. Great chair.
I have that exact same Herman miller chair in my home, I’m basically living like Zedd.
It looks like Zed is selling his ultra modern contemporary mansion for a transitional (modern traditional mansion). The all-glass wall and eccentric angle house may go out of style but a combination of traditional and modern can be timeless. I think french windows and French doors are superior to sliding doors and low security glass wall.
agree much rather have the traditional mansion ..
The house is extremely pretty and up to date. Even if he takes a slight loss, it's a small amount compared to his net worth and can be a tax wright off and a benefit depending on the circumstances. I'm not sure why he bought one hose without selling the other. That seems like an unnecessary risk. Great video!
It’s an ugly house tbh
He's gonna be lucky to come out of this by the time its eventually sold and all the closing/holding costs to break even. This is the problem when the ultra rich speculate on already overly priced and inflated real estate, Zedd bought this house at the high end prices of the market cycle and then tried to mark this house up with a price tag that wasn't justified, and now it slowly starts crumbling back down and like I said before, hes gonna be lucky to break even when you factor everything in, all the fees and handlers and once a house starts to plummet in price, hes lost all the upper hand in negotiations and it's a free fall.
Unfortunately for him you're probably right. It's a cool house but I think he paid too much. Probably easy to do when the money is flowing in like it does for him. But he has to be squirming a bit owning these 2 properties.
3:18 Kitchen doesn't wow me. I do kind of like the idea of water on either side as you enter of course you can't ever go home drunk
Coming home drunk is what I spend 20% of the year doing
#ScottEdward That chair is the Eames Lounge Chair and Ottoman; mid century modern. Exceptionally expensive IMO
30k subscribers. Great work!
Thanks!
This is why things are not what they seem when you break it down its the same thing for us in the lower markets like 500000 to 5 million same thing applies, the Interest rate, Market feels, the Buyers market is now in full view.
The chair you referenced at 3:45 is a Herman Miller Eames Lounge Chair. A couple buddies have these and their comfy as a cloud. Can easily sleep in them but getting up and out is a pain in my opinion
7k for a chair is crazy but then again I’m not at that level - yet
@@marcoh136 most of them are fake anyways. And a new 7k one doesn't even include the ottoman. That's another few k. Plus you're just another peasant who just overspent on an item every wannabe design aficionado has nowadays. I swear, mainstream ruined just about every single Eames chair model, I can't see them anymore. It's almost embarrassing having one at this point.
Eams chair from the 50's. My favorite also.
Yep that’s it! I have the Eames LCW in my office but always wanted one of the loungers.
Great review! Nice house in prime Beverly Hills - wonder why he wants to sell it after buying it not too long ago.
Prime beverly hills? 🤣 this is barely in Beverly hills, its not selling because of how bad the location is.
What else??
That is no ordinary tree in the middle of the house...that is the latest craze of importing exotic trees such as this Olive tree. You could do a whole episode on how they get these trees from Italy for the luxury market. I have read where Enrique Iglesias wanted special full grown palms for his estate. The Wall street Journal did a story on it.
Go to any local Tree nursury
@@Thun-qd1lg Cool I will go right down tonight and grab a 150 year old Olive tree....
At least in England a few centuries ago it was the latest hype to have an hermit live in a hut in your backyard. en.wikipedia.org/wiki/Garden_hermit
@@steffenbendel6031 That is hilarious! I will remember that!
i love your videos man i wish to be a real estate agent and developer in future all around the world but mostly LA. anyways keep up the good work!
Appreciate the comment! I’ll keep the videos coming. Got an update coming soon on that new build project of mine.
The house is great, however even if I had the dough I do not understand why buying such a property. The maintenance cost alone is insane
Ngl the video of his house tour is quite nice
it's a Vitra lounge chair, designed by Charles and Ray Eames, incl an Ottoman.
Nailed it 👍🏻
He way overpaid for the original purchase; it’s worth maybe $10mm on the high end, when he bought it for $16. Maybe still only worth $10mm even now.
This is how celebrities and athletes go broke.
$10m is a bargain for that size/hill/views, perhaps up to $14m. I suspect it's not just price but there is something else going on too. Dunno what it might be - foundations, other planned construction, something else - but there is something wrong with this picture IMO.
I wonder what's wrong with the house
Eames lounge. Love it
It’s a Herman Miller lounge chair 3:49
Yep! Love that chair.
Buyers aren't stupid, especially in that price range. They can easily look up price history on Zillow.
you should get propsteam.. You can see their mortgage amount and other things!
2022 Walnut classic Eams lounge chair & Ottoman £629 in the UK ... Scott, you should have used the H.H. Holmes Hotel for Halloween 💀💀💀
Dang that would have been a perfect Halloween episode! Maybe next year…
@@Real.Estate.Report I put it in a message but you get hundreds 👍👍
Im surprised too. Been watching this Mansion for a year now.
Bro pls do a review of Ben Simmons Mansion in hidden hills. He hasnt sold it yet too.
He got a deal for it around 16m but I think they were selling it at 20m years back. Check it
Thanks for the suggestion I’ll check it out
@@Real.Estate.Report It was Nobel LA and featured by Enez
he could list it for 200m, doesn't mean its worth that. list prices are pretty much laughable.
i say about 10m in todays market.
Yep… I think if he started around $20M he would have sold it back then. He started way too high. Now the market has shifted.
@@Real.Estate.Report i think sellers would be wise to list a realistic price, and say "price is firm". but, think most of them are waiting for a fool, that usually never comes.
The way you explain things is perfect
Uh oh, a millionaire has buyers remorse. I feel so bad for them, what a shame. I had sleep for dinner the other day lmao. Idk why these people are spending millions they swear they can't afford on houses they don't see themselves living forever in. Super out of touch behavior if you ask me.
$22.8 mil in 2016, sold for $16mil, asking price of $18.5 Mil today, prices are all over the place, valuations are essentially made up. Also, you have to consider the taxes he's paid/going to pay on this when deciding if he actually made money.
It looked like there’s a 20 mil and an 50 mil in your screen shot just a couple streets away… not enough to justify his asking, but maybe it was an early upgrade in the neighborhood.
I too love an Eames chair, my friends husband works for a furniture company in NC and he found one really beat up, so he snagged it, took it to work where they fixed it up! ❤
The chair is an Charles Eames
Yes!
Chair is an Eames
I have a Chinese copy I got off eBay for $600 including ottoman
his net worth has to be around 100-120M. and that house is nice, but also kinda just a giant slab and a pool, though some features are definitely nice like the entrance and living room, views in the middle of an average (by la standards) upper class neighborhood and kinda out of the way, so a buyer of a property like this is going to be looking at other places first and this one won’t really show up. no1 looking in this area can afford it and anyone else will have many other options. its a hard sell in any market, he might have to go down quite a bit, and probably should promote it more to get attention to this listing, let people know its his house, etc, and maybe that will help
Great work! 👏
Why would he want to move so close to a similar style property?
Upgraded to bigger 15k sq ft (vs 10k at the old place), and better value for the money in his new place. He was talking about building a new guest house at this old place a few years back, probably realized it was cheaper to move to a bigger house than to build on that promontory (including the structural engineering for retaining walls, long permitting delays, etc).
The Chair- Eames for Henry Miller company
I just don't understand why sell it just to move 10 miles down the road to the valley of all places. There has to be a catch. If this house was built in Bel-Air it probably would've sold more easily.
5:06 Do you have selective filter vision? 21M, 9M, 35M 24M, 11M, 25M, 19M...
When you think you're famous enough to cause asset appreciation with your name alone lol "Zedd used to live here yanno..."
Old yuppies who actually have this money: who...?
Imma go with “weird looking chair”
It looks like the house of a dystopian villain in those futuristic movies
Haha yes it kind of does
Buy the cheapest house in the best neighborhood. Not the most expensive in a underdeveloped area.
It’s a Herman miller Eames lounge chair
The property taxes alone makes holding on to something like that a waste of money. Just do the math, the appreciation on it over 20 years won't ever outpace the taxes paid up to that point at that sky-high price tag level.
Eames lounge chair?
Eames chaise longue.. a classic
Yes it is....
Rates are up now, so yeah, he missed his shot. Now if it sells it will sell less then he paid, unless he waits for inflation to continue for some years.
So u buy & sell also? Why don't you make an offer on this one?
No one in the comments seems to understand buying and selling costs. “He wouldn’t be losing money”. 5% realtor commission on $18m is $900k. Plus other expenses from when he bought and sells it. And if he spent money on upgrades.
Those Herman Miller chairs are awesome. I really want one for my deal room
Are you referring the the Eames lounger?
What makes this white box any different from anyone else’s? They all look like empty refrigerators on the inside.
Architectural digest did a tour of his home do check it out
Oh what a life having the ability to buy a new $15 million dollar mansion while you wait on your old $20 million dollar mansion to sell
if you take inflation into consideration all of these properties are resolt at a loss
Thats true..
This must be why he hasn't finished his new frickin album
He really ought to hold on to it for all the investment with furnishings that he had put in. Wait for a better timing.
I agree
Lol I used to work designing these type of homes. All the giga mansions look the same , made by developers to squeeze money .
Well....Pulp Fiction has a prophecy for this DJ I guess!
Eames Chair
Probably 1% of the world could afford a house of this value, also consider out of that 1% who is actually wanting to spend 20 million on a house. Makes selling the house hard and lengthy. No pub intended.
Why buy a house priced at 20 million when I can use all my capital to build my own house the only thing valuable he has is the land. Because the land is what I need to build my dream home not someone else’s home with their own ..”touches”
You can see his house on architectural digest
I really don’t understand why DJs make so much money, it’s stupid. Nice house, I like contemporary homes but why have a glass house?
Also networth is not an actual amount of liquid cash that is accessbile. What I mean by this is that Even though these stars have a network of say 1800000 million that 18000000 million is not tapable he cant get to that cash immediately. He does not have access to that 1800000 million he is limited. Same for every star. This is why they are just like you and I in power. They dont have it. To have true power you need to have that in cash and liquidity and control it 100 percent making you very very dangerous.
In at 2.6K views!!!!
999k for land with those comps though 🤔
Eames chair = classic
herman miller eames chair
You mean the Classic Eames Lounge chair and ottoman? Not bad, if we talk classic, still my fav is the Egg chair in classic leather - but must admit both are good choices:)
Why do I have the feeling - as you kind of refer to it as well - that he wanted to ride on the wings of the property market and make a quick buck (which didn’t seem to work out)…and although its fab and everything, the new one seems to have much more ‘soul’ that most probably is not investment but rather a home (I know tastes differ but still)…
That’s it! I like the egg chair too. And the Wassily. And the Hans Wegner shell chair. Ugh I guess I have a thing for chairs haha.
@@Real.Estate.Report That’s not a bad thing to have I think… and when we consider the price of classic chairs, one can put together a real pricey collection as well…the shell chair is spot on, just great, totally understand the choice, but must admit I could never understand the bicycle as the inspiration for the Wassily (the tubular frame-work makes sense so-so, but the shape doesn’t add up for me coming form a bicycle…. maybe I am not seeing something others do)…
That price ask of his is ridiculous. a 65% price increase in 3 years? It isn't even like he did any work on the property.
Might be wiser to rent it out
It may come to that. Would probably do well as a short term rental.
If your worth 50 million. You should probably not own a 20 million dollar home. And go purchase another 15 million dollar home to boot. I think this DJ must have a side hustle. Insane
He's clearly worth more than that.
he should sit on it ...better than taking the cash and losing it in inflation.
Reminds me of a pair of houses in my neck of the woods 5327/5305 Carlsbad blvd, been on and off the market multiple times over the years. 5305 has a pretty interesting story to it, white collar criminal who stole 100s of Ms and was eventually pardoned by trump and had to do house arrest at a 10k sqft waterfront mansion
Houses have been for sale for 15m/30(eventually sold for 20m and I still don’t think it changed owners) in a neighborhood of homes worth a fraction of that
Interesting… I’ll check out the history and see if there’s enough out there to put a story together…
I remember that place because of the bizarre backstory! I had it on my Zillow saved list for years, and saw that it sold, but didn't know anything more about it than that... So if you're saying it's still the same owners now, that sounds like an even better story now 😄
I would buy this house for 30m
a dj?!
don't know of him never heard of him don't know what he does - but he's doing it well🤣🤣🤣
Lol yep he sure is
The maintenance of this house would be insane.
I would probably spend 2 days every week only to get the windows clean... :D By the time I cleaned the last one dust would have already settled on the first one I cleaned last week :D
@@ghstproject this is why you have a Hispanic housekeeper and a Hispanic groundsman.
He's from Germany also
that chair with ottoman is the creation of designer Ray Eames.
What you have to get and it’s worth are vastly diff. 5 bedroom 😂😂😂