Hot Property: Sly Stallone readies for another round in La Quinta

It’s been a rocky road for Sylvester Stallone in La Quinta, but the movie star is trying to knock out a home sale in the resort city once more. His desert digs are back on the market for $3.35 million, or $849,000 less than his original asking price five years ago.

The Oscar-nominated actor appears destined to take a loss on the property; records show he picked it up a decade ago for $4.5 million.

The stylish villa sits in Madison Club, an exclusive golf course community with a star-studded list of past and present residents including Kanye West and Kim Kardashian West, Kylie Jenner, Tom Brady, Phil Knight and Jerry West.

Built in 2008, the two-story abode clocks in at nearly 5,000 square feet, with four bedrooms and 4.5 bathrooms. Past a stucco exterior topped with clay tile, a double-door entry leads to living spaces with coved ceilings, arched entryways and floors of hardwood and tile.

Highlights include a wine room, a two-story living room under dramatic wood beams and a dining room that opens to a terrace that overlooks the landscaped backyard. Outside, palm trees line a fountain-fed pool and spa, and a patio with a fire pit descends to a grassy lawn and stream.

An actor, director and screenwriter, Stallone is best known for his role in the “Rocky” film franchise — which landed him two Academy Award nominations — as well as the “Rambo” and “The Expendables” franchises. More recently, the 73-year-old reprised his Rocky Balboa character for “Creed” and “Creed II.”

Josh Reef of Douglas Elliman holds the listing.

Don’t call it a comeback

Chris Paul is back in Los Angeles.

The former Clippers star, now with the Oklahoma City Thunder, has bought a newly built home in Encino for a little over $11.1 million.

Details on the estate, which was sold off-market, are scant, but building records reveal the property includes a two-story main residence and a matching guest house. The two farmhouse-inspired structures combine for more than 12,000 square feet of living space. There’s also an attached five-car garage.

The estate sits behind gates on more than an acre with a swimming pool and a cabana. There’s also a sports court for games of H-O-R-S-E. Views from the property take in the mountains and valley.

Paul, 35, has mostly been in selling mode since he was traded last year to the Thunder in a deal that sent Russell Westbrook to the Rockets. Among the point guard’s real estate moves was last year’s sale of his 18,700-square-foot mansion in the Woodlands, Texas.

Last month, he relisted his contemporary mansion in Houston’s Bayou Woods neighborhood for $7.5 million, a $400,000 reduction from the previous asking price.

A 10-time All-Star, Paul began his career with the Charlotte Hornets and came to the Clippers in 2011 after a proposed trade sending him to the Lakers was vetoed by then-Commissioner David Stern. He was traded by the Clippers to the Rockets in 2017 for a package that included guards Patrick Beverley and Lou Williams and center Montrezl Harrell.

Scene change for Hollywood couple

The pandemic real estate market was no problem for actress Elizabeth Banks and her husband, producer Max Handelman. The pair sold their Studio City compound for $2.255 million roughly two months after listing it.

Spanning a third of an acre near Wilacre Park, the estate makes the absolute most out of its space. Four structures fill out the grounds: a 1940s Midcentury home, a studio, a detached media lounge and a pool house. In all, they combine for a total of 3,230 square feet with four bedrooms and 3.5 bathrooms.

Gates and landscaping privatize the main house, which opens to bright living spaces with white walls and hardwood floors. A picture window and whitewashed brick fireplace anchor the living room, while the updated chef’s kitchen adds tile backsplashes and sleek gray cabinetry.

Outside, the backyard holds a dining patio, swimming pool and grassy lawn. Multiple lounges surround the landscaped space.

Banks, 46, starred in “Wet Hot American Summer,” “Seabiscuit” and “Man on a Ledge” before landing prominent roles in the “Hunger Games” and “Pitch Perfect” franchises. More recently, she directed 2019’s “Charlie’s Angels” and starred in the Hulu miniseries “Mrs. America.”

Handleman, 47, co-founded Brownstone Productions with Banks. Among his film credits are the “Pitch Perfect” films and the 2019 reboot of “Charlie’s Angels.

Richard Ehrlich and Amber Kristin of Westside Estate Agency held the listing. Hilton & Hyland’s Donovan Healey represented the buyer.

‘Crash’ producer cashing out

Film and television producer Bob Yari, whose credits include the Kevin Costner-led show “Yellowstone,” has put a contemporary home in the Beverly Grove neighborhood back up for sale at $4.695 million.

Tucked behind modern fencing, the polished showplace had been offered for sale or lease earlier this year at $4.495 million or $21,000 a month, respectively.

Built in 2019, the multilevel house draws the eye with its stone and marble elements and gold accents. Some 6,000 square feet of open-plan living space contain a chef’s kitchen with imported countertops, formal living and dining rooms, five bedrooms and seven bathrooms.

The lower basement level holds a glass-enclosed wine cellar and a wet bar. An elevator and a floating glass staircase connect each floor.

Outdoor amenities include a saltwater swimming pool and a cabana. A rooftop deck with a spa takes in panoramic city views.

Yari produced the 2004 crime-thriller “Crash,” which won three Academy Awards, including one for best picture. Last year, he produced the thriller “Above Suspicion,” which starred “Game of Thrones” actress Emilia Clarke. He also directed and produced the 2015 biographical film “Papa Hemingway in Cuba.”

Dustin Nicholas of Nicholas Property Group holds the listing.

Shark looks for bite in the market

Two-time British Open champion Greg Norman has listed his trophy ranch in Meeker, Colo., for $40 million.

Called Seven Lakes Ranch, the 11,900-acre ranch sits in White River Valley in the Flat Tops Wilderness Area with sweeping valley, river and mountain views. The property, which straddles a section of the White River, includes a massive lodge, cabins, a saloon/dance hall, a shooting range and riding trails.

The 13,907-square-foot lodge, designed in log cabin style, features vaulted ceilings, a rustic bar and eight bedrooms. A two-sided moss rock fireplace bisects the great room, which takes in the scenery through floor-to-ceiling windows. The home theater is equipped with saddle-style seating. A lakeside stone patio extends the living space outdoors.

A small creek, ponds and seven mountain lakes are scattered throughout the acreage, which annually sees one of the largest elk and deer migrations in the Rocky Mountains. The White River, known for its trout populations, is home to multiple varieties including rainbow, brown and cutthroat trout.

Norman, 65, assembled the ranch property over the course of two decades and has used it as a family retreat.

The professional golfer and entrepreneur has 89 tournament wins for his career, including 20 PGA Tour victories and two British Open Championships. He was inducted into the World Golf Hall of Fame in 2001.

Brian Smith of Hall & Hall holds the listing.