The owner of a Beverly Hills mansion once owned by publisher William Randolph Hearst wants to put the property, now in bankruptcy, back on the market for $125 million, a lower price than what he had asked for in recent years, WSJ Pro Bankruptcy reported. Beverly House, a 3.5-acre estate featured in the memorable horse-head scene from “The Godfather,” has been on and off the market over the last decade, listing for $195 million in 2016 and $135 million last year. The estate’s owner, Leonard Ross, put the property into chapter 11 bankruptcy last month to avoid foreclosure and has asked a bankruptcy judge for permission to list the property again at the reduced price. If the request is approved in bankruptcy court, the estate will hit the market at a time when Los Angeles has a number of high-end properties for sale and many homes listed for more than $100 million have seen their price tags cut. Ross has selected Los Angeles real-estate agents Mauricio Umansky and Santiago Arana of real-estate brokerage firm The Agency to market and potentially sell Beverly House, according to court papers filed on Tuesday in the U.S. Bankruptcy Court in Los Angeles County.
