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Kirstie Alley Slashes Price on Opulent Los Angeles Palazzo

Location:
Los Angeles, Calif.
Price:
$10.75 million
Size:
8,622 square feet, 6 bedrooms, 5 full and 2 half bathrooms

Perhaps it’s an indication of a slowing high-end market, reflective of a more realistic real estate headspace or some other far more benign reason entirely, but Kirstie Alley has dramatically cut the asking price of her Los Angeles estate in one fell swoop by more than 10%. Too optimistically saddled with an elephantine $11.97 million price tag when it first popped up for sale late last year, the price now stands at a still quite-high-for-the-neighborhood $10.75 million. Despite the by-any-standard prodigious price chop, the “Cheers” and “Fat Actress” star, who keeps a whole bunch of ring-tailed lemurs as pets in a hug, tree-shaded cage on the estate’s manicured front lawn, still stands to realize a hefty profit on the sale of the opulent, 1930s Italianate palazzo she picked up in 2000 for $2.998 million.

At the end of a long, gated driveway that meanders through just under an acre of landscaped grounds that comprise vast lawns dotted and laced with what Nourmand & Associates listing agent Konstantine Valissarakos described in marketing materials as “brooks, grottos and ponds,” the consequentially proportioned and lavishly detailed 8,622 square foot villa is wrapped with broad terraces and arched loggias lined with stone balustrades and flamboyant Corinthian columns. In addition to baronial public spaces festooned with all manner of florid architectural detailing, including a circular entrance gallery lined with soignée, blue-toned murals and a grand, gilt-trimmed salon with parquet floors and an antique carved marble fireplace, there are six ample and eclectically decorated bedrooms, some with spacious, elaborately tiled vintage bathrooms, and a total of five full and two half bathrooms.

Alley’s estate is not, by far, the highest-priced property currently listed on the open market in the 90027 zip code. There are currently three residences available with higher prices, including Frank Lloyd Wright’s monumental Ennis House that billionaire real estate collector Ronald Burke has had up for grabs for almost a year at $23 million and international entertainer Michael Feinstein’s grandiose Tudor Revival manse that’s now priced a bit below $19 million after he first sought an in-hindsight entirely unrealistic $26 million.

Nonetheless, historically speaking and even with the new and substantially lower asking price, the Emmy, Golden Globe and People’s Choice Award winner still faces some stiff real estate winds. According to Redfin, in the last three years there has been just one property in the 90027 zip code that has changed hands for more than $10 million: Angelina Jolie’s much tongue-wagged-about and record-setting $24.5 million acquisition in 2017 of Cecil B. DeMille’s former mansion in the gated and heavily celebrified Laughlin Park enclave. Even more interesting, maybe, is that some of the highest amounts more recently plunked down for a single-family property in the area are nowhere near $10.75 million. In 2018, an extensively restored and fashionably renovated 1930s Spanish compound once owned by the family who founded the Ralphs grocery store chain sold for $8.5 million; Megan Ellison dropped $7.75 million, also in 2018, on a compound once owned by Michael “Flea” Balzary of the Red Hot Chili Peppers; and earlier this year Jim Parsons sold his plushly appointed and showbiz-pedigreed Spanish Colonial just down the street from Alley’s spread for $6.95 million after first setting it out for sale at a wild-eyed $8.95 million.

Alley, who appeared in the second and final season of the celeb-studded series “Scream Queens” and was runner-up on the 2018 season of the tawdry and popular British reality series “Celebrity Big Brother,” has long maintained a Cape Cod-style home hidden on more than 16, thickly wooded and semi-remote waterfront acres in Islesboro, Maine. The long-time committed Scientologist, who told Howard Stern several years ago on his Sirius XM radio show that she had reached the high and mysterious OT-7 level in the church’s hierarchy of achievements, also presides over a multi-residence waterfront compound anchored by a sprawling, 8,000 square foot mansion near the controversial church’s Clearwater, Fla., headquarters.

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