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Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Steve Wynn’s $10 million price cut was a change to the asking price, not the eventual sale price. In March 2024, his Beverly Hills estate, Villa Lulu, was repriced from $75 million to $65 million. It later sold for a reported $47.75 million in July 2026.
What happened to the estate after the 2024 price cut?
The $65 million figure was the revised asking price reported by Realtor.com on March 18, 2024—not a sale price. More than two years later, the home went pending in early July 2026 at an asking price of $50 million and sold for $47.75 million, according to SFGATE. The Los Angeles Business Journal reported the sale at approximately $47.8 million, a rounded figure consistent with SFGATE’s more precise amount.
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How the reported asking prices changed
Villa Lulu’s price history includes a reported off-market figure as well as public asking prices. Those are different categories: SFGATE reported the $135 million figure as an initial off-market ask, while the formal public listing began at $110 million in 2021.
| Reported amount | What it refers to | Source |
|---|---|---|
| $135 million | Initial off-market asking figure reported in 2026; not the public listing price. | SFGATE |
| $110 million | Public asking price when the estate was listed in 2021. | Realtor.com; SFGATE |
| $115 million, then $125 million | Realtor.com reported that the asking price rose to $115 million after roughly a month and to $125 million in April 2021. | Realtor.com |
| $75 million to $65 million | March 2024 asking-price reduction of $10 million. | Realtor.com |
| $50 million | Asking price when the home went pending in early July 2026. | SFGATE |
| $47.75 million | Reported July 2026 sale price; the Los Angeles Business Journal rounded it to approximately $47.8 million. | SFGATE; Los Angeles Business Journal |
Realtor.com reported that Wynn bought the property in 2015 for almost $48 million. Later reporting put the purchase at $47.85 million, with the Los Angeles Business Journal rounding it to $47.9 million. These purchase-price figures are reported amounts, not an independently verified deed history.
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What is Villa Lulu?
The estate is at 1210 Benedict Canyon Drive in Beverly Hills, on 2.7 acres. SFGATE described the main residence, expanded by Wynn, as 27,000 square feet with 11 bedrooms. Realtor.com reported 13.5 bathrooms and said Wynn added about 8,000 square feet after buying the house; that expansion figure is Realtor.com’s account and is not reconciled here with other descriptions.
Published reporting and listing details describe a property designed around both entertaining and recreation. SFGATE listed a screening room, wine room, gym and spa, tennis court, and pool with a pool house. It attributed the claim that a generator can power the estate for more than a week to the listing. Realtor.com also described an elevator, wine cellar, home theater, massage room, guesthouse with a full kitchen, staff bedrooms and kitchen, tennis pavilion, and outdoor kitchen. The Los Angeles Business Journal reported that Wynn hired architect William Hablinski to expand the home, originally completed in 1994, and described a private IMAX theater with seating for 25. These are reported or listing-derived features, not claims of an independent inspection.
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What is known about the buyer and the sale?
The reviewed sale coverage does not name the buyer. The Los Angeles Business Journal described the buyer as an American businessman. SFGATE quoted listing agent Leonard Rabinowitz of Christie’s International Real Estate saying, “We’re a little disappointed about the price,” and, of Wynn, “This was disappointing, but he’s had other huge wins.”
Rabinowitz also argued that California’s proposed billionaire tax and the state’s treatment of entrepreneurs were hurting ultra-wealthy home sales. Those were the agent’s views in the context of the proposal; the reported coverage does not establish that the proposal caused Wynn’s price reductions or the final sale outcome.
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