Why isn’t Sugar Ray Leonard’s Stunning Pacific Palisades Mansion Sold
With three years of time on the market, Sugar Ray Leonard’s Pacific Palisades, California estate is still for sale for a price that buyers might not find quite as appealing.
Leonard and his wife, Bernadette Robi, listed their home of over two decades for $52 million in 2019. Last year they reduced the price to $46.5 million.
We spoke to real estate experts about the reasons why this enormous, 16,700-square-foot mansion is still on the market.
Luckily for you, TTP Member, we’ve covered for you why isn’t Sugar Ray Leonard’s stunning Pacific Palisades mansion sold. Remember, that while the first step is completing any of these amazing courses, the second and possibly more important step is taking action even if it’s imperfect action.
Set on a secluded and sophisticated estate, this 1.7-acre lot is one of the largest lots in an exclusive area called the Palisades Riviera.
When this couple developed their custom vision for their property, they were able to hold their wedding ceremony in their backyard in 1993. They hired Richard Landry to design their home.
Despite being empty nesters, the couple told Architectural Digest last year that they are ready for a change.
Whoever ends up buying the property on this rural lot will acquire quite a compound.
It features seven bedrooms, 12 bathrooms, a wine room, a guesthouse, and a tennis court.
The family customized the interiors with pieces from Europe, such as a two-story living room with glass doors to the outside, formal living room with a fireplace, spacious dining room with doors leading outside, and near a kitchen that is near a family room.
Incredibly ornate architectural elements are showcased in this home including beamed ceilings, fireplaces, and elaborate chandelier.
The main living area features a living room, bar, and screening room. There is also a private balcony, showing a fireplace and walk-in closets.
This property has a tennis court that is lighted and comes with an area to view. It also has a deck, putting green, and a four car garage.
In a video made for Architectural Digest, the homeowners admired their home and described it as perfect for them. The home is filled with mementoes from the boxing legend’s storied career. But, he has one special spot: “I love the gym,” he says in the video.
Why has this home’s market been languishing for three years when it has substantial reputation and value?
As always, dollars play an issue, according to one agent.
“The fact that it was on the market during the “hottest” real estate market over the last two years, where we saw lots of movement in the “uber-luxury” space, and it did not sell is definitely telling about the asking price,” says Cara Ameer, an agent with Coldwell Banker licensed in California and Florida.
She points to the $52 million price tag in 2019 as overly ambitious.
“Although properties in this price point are totally discretionary purchases, buyers looking in these ranges have a lot of intangible as well as tangible requirements, and they have to feel it is right for them.”
Ameer says, “Buyers have a lot of options because the $46 million is within the range of the estates that are just up the road in Montecito. They will have lots of privacy.”
In response to the asking price, Arvin Haddad with The Agency, who also critiques luxury real estate on TikTok, says the design is in line with market value. The issue is that the look is out of touch.
“The price is not too bad, and the location is good,” says Mark. Heft meant a large amount of residential land, located in a prime area. It has beautiful architecture.
Arvin thinks that the main reason the home hasn’t sold is that it’s a traditional house with traditional decor and furnishings inside. He thinks that this contributes to the feeling that people are stepping into a Tuscan villa in Italy, which is great, but not how people want to live day-to-day.
The listing photos should reflect what today’s buyers want, he explains.
“All the other bedrooms and living areas should be staged in a transitional decor to soften the traditional Mediterranean architectural elements,” estimates the designer.
With an updated look, a buyer may be motivated to make a knockout offer—even at current prices, according to Haddad.
“Before lowering the price, you should create staging for the property,” he says. “Dropping the price should be a last-resort move.” “Because there are comps in place that would support that price.”
Sugar Ray Leonard is an American former professional boxer, who won gold in the light-welterweight at the 1976 Olympics and went pro the following year. He beat Marvelous Marvin Hagler for the World Boxing Council’s middleweight title in 1987. Leonard retired in 1997 with a record of 36-3-1 and was inducted into the Boxing Hall of Fame.
Sugar Ray Leonard is an American boxing legend, born as Ray Charles Leonard in North Carolina on May 17, 1956. He was the fifth child of Gertha and Cicero Leonard’s seven children, and was named after his mother’s favorite singer, Ray Charles.
Leonard had a tough childhood, and he saw crime of all kinds wreaking havoc on the society around him. Several of his peers died violent deaths; many more were sent to prison. However, Leonard was determined not to give in to his surroundings.
As an athlete, Leonard was only mediocre at team sports. His older brothers, who had joined in boxing rec center after watching those of their friends and teammates in the sport, convinced him to visit Palmer Park Community Center. His life no longer felt confined by conventional boundaries and Leonard found a new sense of freedom.
Leonard became so obsessed with boxing that he itched to perfect his skills. “For some reason, I wanted it so badly,” Leonard told Sports Illustrated in 1979. “I felt it inside of me and I had to keep going.”
Leonard’s talents proved to be extremely valuable in 1973 and he won the National Golden Gloves that year, and was crowned the national Amateur Athletic Union champion three years later.
In his youth, Leonard was known for running in, coming in low and using his boxing skills to knock fighters out. One of the pivotal moments of Leonard’s career was when he watched Sugar Ray Robinson, a martial arts master himself. As time went on and Leonard learned from Robinson’s techniques, he eventually earned the nickname “Sugar Ray.”
In his playing career, Leonard won three golden gloves awards, and he achieved two AAU titles as well as victory at the world championships and in the decathlon in 1975. At the Olympic Games in Montreal, Canada, despite a hand injury that would have otherwise done nothing more than limit him to light-welterweight (139 pounds) during boxing competition, Leonard won the gold medal.
Even though Leonard did not plan to become a professional boxer, he became one when his parents became ill and he could no longer find meaningful work. Later on, he decided to return to boxing as well.
With success in professional boxing, Leonard competed in amateur and professional activities. He won the World Boxing Council’s welterweight title in November 1979, and over the next decade he had a number of victories with such victories as over Roberto Duran and Thomas Hearns.
In 1984, Leonard retired from boxing for a few years before returning in 1987 and defeating Marvelous Marvin Hagler to win the middleweight title. Leonard has gone on to have arguably one of the greatest fights in boxing history as a result.
Leonard retired from boxing in 1997 after finishing his career with a 36-3-1 record and 25 knockouts. Leonard was inducted into the International Boxing Hall of Fame just one year later.
As one of the most successful athletes of all time, Sugar Ray Leonard has won countless accolades and four celebrated boxing titles. Now he’s been on two highly acclaimed ABC shows in two different seasons, Dancing with the Stars (Season 12) and The Big Fight: My Life In and Out of the Ring. He works to promote awareness about juvenile diabetes through his foundation that he founded in 2009 with his wife, Bernadette.
On the silver screen Leonard appears in Paramount Pictures’ critically acclaimed film “The Fighter.” He also consulted for DreamWorks and Walt Disney Pictures on Hugh Jackman’s “Real Steel.”
With a calling towards and passion for humanity, Leonard has always been devoted to his community and to helping those in need. The Sugar Ray Leonard Foundation was founded in 2009 to help fund research projects on changing the world as well as offering patient care for children living with type 1 and type 2 diabetes. Furthermore, The Sugar Ray Leonard Foundation is doing their part in helping children lead healthier lives through diet and exercise, equipping them with the tools to be successful in health later on. Leonard also lends his time to Habitat for Humanity and serves as co-chair for the Ambassadors of Children’s Hospital Los Angeles (CHLA) and remains the international chairman of the Juvenile Diabetes Research Foundation Walk for a Cure.
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