Beverly Hills Mansion Sells for 43% of List Price - 619 Doheny Rd

While reviewing recent sales activity in the coveted 90210 Zip Code of Beverly Hills I noticed a sale of a multimillion dollar property that surprised me.

"NEVER BEFORE ON THE MARKET, famed Doheny Family property. Extraordinary opportunity to develop one of the most spectacular estates on sought after Doheny Rd. Flat and useable acreage, two separate parcels and beautiful vistas and mature landscaping. Quality existing one story residence with gated access on two streets. Once in a lifetime opportunity".

The property was listed in January 2011 at $28.5 Million.

116 Days later it sold for $12.5 Million - representing only 44% of the List Price.

That's a huge discount in anyone's language .... so I'm wondering if the sale may have only been for one of the two parcels advertised.

Pics courtesy of The MLS. Listed by Coldwell Banker and Sold by Regent Brokerage.