WEA News

WEA in the LA Times: Billionaire Steve Wynn lists his Bel-Air home for $17.45 million

Amid rumor of a splashy purchase in Beverly Hills, hotel and casino magnate Steve Wynn has put his home in Bel-Air on the market for $17.45 million after just eight months of ownership.

Built in 1991, the Traditional-style home sits behind gates on about an acre overlooking the fairways at the Bel-Air Country Club.

Two floors of living feature a grand foyer with dual staircases that opens to a step-down living room and adjacent wet bar/family room. A paneled library, a formal dining room and a gourmet kitchen are also within the 11,027 square feet of space.

The home has five bedrooms and eight bathrooms, including a master suite with a fireplace, his and hers bathrooms and a balcony overlooking the grounds. A lower level has a guest bedroom, a media room and a gym.

Outdoors, tiered grounds center on a swimming pool with a raised spa. Large expanses of grass, multiple terraces and a fountain feature complete the setting.

Wynn, whose net worth is about $2.6 billion, according to Forbes, bought the house in November for $16.25 million.

Jon Bronson and Mary Swanson of Coldwell Banker Residential Brokerage and Stephen Shapiro of Westside Estate Agency share the listing.

So where is Wynn headed? To another part of the Platinum Triangle, if rumor is to be believed.

The scuttlebutt is that he’s struck an off-market deal to buy a sprawling estate in Beverly Hills from Guess jeans co-founder Maurice Marciano. TMZ reports that he paid $50 million for the 19,299-square-foot mansion.

However, real estate agents not authorized to comment say there is no indication that the billionaire is in escrow to buy Marciano’s home and is, if anything, in negotiations to buy.

Whether Wynn follows through with the purchase is another matter entirely.

He has earned a reputation for changing his mind when it comes to his estate. Before buying in Bel-Air last year, Wynn was in play to acquire the storied Liongate estate in Bel-Air before backing out of the deal.

The 24,000-square-foot mansion once owned by Kenny Rogers was later purchased by philanthropists James H. Randall and is wife, Eleanor Randall, for $46.25 million.

Wynn also reneged on a deal to buy a Beverly Hills estate from Marciano’s brother and fellow Guess co-founder, Armand Marciano, according to Variety.

Click here to read the article on the latimes.com.