Real Estate Industry News

One of the most pedigreed estates on the L.A. market just got a tad cheaper. “American Idol” creator Simon Fuller has trimmed the price of his lavish Bel-Air mansion to $32.5 million, down $2.5 million from his original asking price.

Clocking in at 11,200 square feet, the impressive estate was built 92 years ago by Gordon Kaufmann, the noted architect behind the Hoover Dam, the Greystone Mansion in Beverly Hills and the Art Deco-vibe old Los Angeles Times building in downtown L.A.

Fuller shelled out $24 million for the spot in 2014, becoming the latest high-profile name to inhabit the home. Fashion designer J. Mossimo Giannulli and actress Lori Loughlin — who were both recently charged in the college admissions scandal — owned the home in the ‘90s. Then, records show, they sold it to billionaire businessman David Murdoch for about $10 million in 2001.

Dubbed the Fredricks Residence, the posh home sits on 1.6 gated acres. Ivy crawls across the white-painted brick exterior, giving way to grand common spaces spread across two stories.

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Stately public rooms, towering columns, paneled walls and crystal chandeliers give the interior an old-school style. There’s a dramatic entry with a spiral staircase, formal living and dining rooms, a whitewashed chef’s kitchen, a marble lounge and a rounded library wrapped in wainscoting.

Elsewhere are seven bedrooms and seven bathrooms. Upstairs, the expansive master suite comes complete with dual bathrooms, an office and gym.

A balcony overlooks the back patio, which features entertaining space before descending to a mosaic swimming pool and spa. Rolling lawns and winding paths navigate the grounds. A guesthouse, greenhouse and motor court complete the estate.

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Drew Fenton and Trista Rullan of Hilton & Hyland hold the listing.

A native of Britain, Fuller rose to prominence managing the Spice Girls, as well as Annie Lennox, Amy Winehouse, Carrie Underwood, Kelly Clarkson and David and Victoria Beckham. In addition to creating “American Idol” in 2002, he also produced “So You Think You Can Dance” and “Q’Viva.”

Three years ago, he sold his 1920s English Traditional-style mansion in Beverly Hills for $14.6 million, The Times previously reported.