J.Lo Passed on This Megamansion—Now It’s Selling for a Fraction of Its Original Price!

The luxurious Azria Estate, once home to the late fashion mogul Max Azria, has just undergone a significant price reduction—dropping by $16 million—months after reports suggested pop star Jennifer Lopez was “in negotiations” to purchase the property.

This sprawling Los Angeles estate, located in the exclusive neighborhood of Holmby Hills, has had a tumultuous sales history since its initial listing in 2015. Originally priced at $85 million, the asking price climbed to $88 million the following year. Despite numerous attempts to sell, the estate has been on and off the market a total of 10 times, making it one of the most talked-about properties in Los Angeles.

Most recently, the 14-bedroom mansion was relisted in April 2024 for $55 million. In September 2024, TMZ reported that Lopez, fresh off her highly publicized divorce from Ben Affleck, was allegedly “in negotiations” to purchase the estate. Lopez, who was in the process of selling the $68 million mansion she shared with Affleck, had previously visited the property in 2023 while touring homes with her ex-husband. In fact, the Azria Estate was even featured in her movie Atlas.

However, despite the rumors swirling about Lopez’s interest, no official statements were made by the singer, and the property remained unsold. It now stands with an asking price of $39 million, less than half of its initial 2015 listing. This steep price cut signals a dramatic shift in the property’s market trajectory, though it still remains one of the priciest homes in Los Angeles.

Complicating matters, the Azria Estate was reportedly under a pending offer in 2024 when billionaire investor Ron Burkle placed the winning bid at $30 million. However, that deal soon became embroiled in legal drama, with Burkle suing Azria’s widow, Lubov, for breach of contract. The lawsuit, which has not been fully resolved, cast a shadow over the deal, and it remains unclear whether Burkle ultimately took ownership of the home.

The price reduction is a bitter milestone in the property’s history, which began when Max Azria and his wife purchased the estate for $14.4 million in 2005. The home, which was once owned by producer and writer Sidney Sheldon, gained widespread attention due to Azria’s ownership and its iconic status in the Los Angeles real estate market. Known for its exquisite design and location, the estate has captivated both high-profile buyers and Hollywood insiders.

Now priced at $39 million, the Azria Estate continues to attract interest, but it remains to be seen whether a buyer will emerge who is willing to meet the new asking price. With its rich history, stunning architecture, and celebrity allure, the home is sure to remain a prized jewel in Los Angeles’s competitive luxury real estate market.