Mark Wahlberg's mansion in Beverly Hills, now sold and flipped.
Los Angeles, July 29, 2025
In a notable real estate transaction, actor Mark Wahlberg sold his luxurious Beverly Hills mansion for $55 million before it was flipped by Paris Hilton for $63 million. Initially listed at $87.5 million, the sale came amidst market pressures and the introduction of a mansion tax in Los Angeles. The property, covering 30,500 square feet, reflects the strength of the luxury real estate market in the area, driven by demand from fire-affected buyers and foreign investors. Recent trends indicate high demand for ultra-luxury homes in Southern California.
In Los Angeles, the luxury real estate market has seen a series of high-profile transactions involving celebrity-owned properties. A recent notable sale involved actor Mark Wahlberg’s Beverly Hills mansion, which was sold in 2023 for $55 million. The property was initially listed at a significantly higher price of $87.5 million but was eventually discounted to facilitate a quick sale before an impending mansion tax took effect in Los Angeles.
Wahlberg’s Beverly Hills mansion encompasses approximately 30,500 square feet of luxury living space. To avoid the new mansion tax threshold, Wahlberg lowered his asking price to attract buyers. The reduced price set the stage for a quick sale, and shortly after, the home was acquired by a different high-profile individual.
The buyer, later revealed as socialite Paris Hilton and her husband Carter Reum, flipped the property for $63 million shortly after the purchase, realizing a profit despite the mansion tax implications. This rapid turnaround underscores the ongoing demand for luxury estates in the Los Angeles area, especially among foreign investors and displaced buyers.
Los Angeles led the nation in luxury home sales in June, with five of the top ten most expensive homes sold located within California. Among these, three were in Beverly Hills, one in Bel Air, and another in Atherton, demonstrating the region’s consistent strength in the high-net-worth real estate sector.
Real estate agents highlight that recent wildfire displacements have increased demand for luxury properties. Buyers affected by recent wildfires, particularly those from outside California, are seeking new primary residences, fueling further sales in upscale neighborhoods.
Additionally, international interest—especially from Chinese investors—is contributing to this vibrant market. Agents report a notable rise in foreign capital flowing into Beverly Hills and Bel Air, pushing prices higher and maintaining the region’s status as a global luxury real estate hub.
Among notable listings, agents are marketing properties such as a $118 million estate on Bel Air Road and a $68 million listing on Flicker Way. Recent off-market transactions include a $32 million spec home sold to Richard Saghian, CEO of Fashion Nova. Saghian plans to use that property temporarily while upgrading his more prominent Bel Air estate, known as The One, which was purchased at auction for $126 million in 2022 and spans over 100,000 square feet.
Other high-value transactions included a property sold off-market for approximately $60 million. Across the broader Southern California region, luxury markets are thriving with significant sales, including a $38.8 million property in Palm Beach, Florida, demonstrating a regional trend of high-value transactions.
Standout listings include a historic estate once owned by actor Cary Grant, now renovated into a modern mansion. Located in Beverly Hills, this estate covers 15,700 square feet and is listed for $77.5 million. Originally purchased in 1946 for about $46,000, the estate was rebuilt and expanded in 2022, featuring seven bedrooms, 13 bathrooms, a 52-foot pool, tennis court, and extensive outdoor terraces with panoramic views of the city and ocean.
The current owners, including Grant’s widow and her husband, are downsizing. The property has attracted notable attention due to its historical significance, expansive outdoor spaces, and modern amenities. The listing agents include prominent real estate professionals specializing in luxury properties across Los Angeles.
The luxury housing market in Los Angeles continues to be driven by a combination of domestic high-net-worth individuals, foreign investors, and displaced fire victims. The compulsory mansion tax and rising property values have influenced pricing strategies, often leading to price reductions to expedite sales.
The price was reduced to avoid the mansion tax threshold in Los Angeles, which prompted the owner to lower the asking price for a quicker sale.
The mansion was purchased by Paris Hilton and her husband Carter Reum, who subsequently flipped it for a higher price, making a profit despite the mansion tax.
Luxury sales are rising, driven by fire-displaced buyers and increased international investment. Many properties are selling quickly, often after price reductions to accommodate new taxation policies.
Significant listings include a $77.5 million estate of Cary Grant, a $118 million property on Bel Air Road, and a recent $32 million spec home sold to Richard Saghian.
| Feature | Details |
|---|---|
| Most Expensive Recent Sale | Mark Wahlberg’s Beverly Hills mansion (sold for $55M, flipped for $63M) |
| Property Size | 30,500 square feet |
| Major Listings | $118M Bel Air estate, $77.5M Cary Grant estate, $32M spec home |
| Notable Buyers | Paris Hilton, Richard Saghian |
| Market Drivers | Fire displacement, international investment, taxation policies |
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