At the center of a 3.5-acre lot in Beverly Hills is the mansion known as Beverly House. If you aren't familiar with it by its proper name, you may be familiar with the house as it appears in 1972's The Godfather, more precisely as the stately Hollywood mansion of fictional movie producer Jack Woltz, who infamously wakes up with a severed horse's head in his bed after defying mob boss Vito Corleone. Now, The Wall Street Journal reports, the mansion is (possibly) being listed for sale at $125 million.
Beverly House once belonged to legendary newspaper publisher William Randolph Hearst, but that was a long time ago, and the property is currently in bankruptcy thanks to its current owner Leonard Ross. Ross filed to place the estate in chapter 11 bankruptcy in order to avoid foreclosure, and he's now asking a bankruptcy judge for permission to list it at the reported price, which is a significant reduction over what it's been listed at previously, like $195 million in 2016 and $135 million in 2018 – but it's actual appraised value is $119 million.
Ross has been Beverly House's owner going back to the 1970s through a holding company that's saddled with between $67 million and $70 million in debt. He recently asked a judge for permission to loan this company some $750,000 for maintenance and upkeep on the house relating to its status as a rental property, which has been a fairly reliable source of income. According to court documents, Beverly House generated over $3 million in revenue from being rented as a temporary residence, but Ross is interested in selling it for a larger payday.
Now, he has to wait for his hearing on January 14th to get permission to list the famous Beverly House for sale.
For a horsehead-free look at the Beverly House, check out the videos below:
