Steve Wynn’s Villa Lulu Sells for $47.75 Million After Years of Price Reductions

Villa Lulu, the large Beverly Hills estate owned by casino and resort developer Steve Wynn, has sold for $47.75 million after more than five years of attempts to find a buyer.

The sale closed on July 26, according to the property’s listing. Located on 2.7 acres along a private road off lower Benedict Canyon, the estate contains approximately 27,000 square feet of living space and is one of the largest private residential properties within Beverly Hills.

The home was initially marketed privately for as much as $135 million before entering the public market in 2021. It was subsequently listed several times at lower prices. The asking price had fallen to just under $50 million when the property entered into contract in June.

The final price represents a reduction of more than $87 million from the estate’s highest reported asking price.

“We’re a little disappointed about the price,” listing agent Leonard Rabinowitz of Christie’s International Real Estate Southern California said following the sale.

Despite the reduction, the transaction has been reported as the highest-priced Beverly Hills residential sale completed so far in 2026. The buyer’s identity has not been publicly disclosed.

Wynn purchased the property from Guess co-founder Maurice Marciano for approximately $47.85 million in 2015. The recent sale price is approximately $100,000 less than that purchase price, before accounting for the substantial renovations and expansion completed during Wynn’s ownership.

After acquiring the estate, Wynn expanded and redesigned the residence with architect William Hablinski and interior designer Roger Thomas, a former executive vice president of design for Wynn Resorts. The grounds were designed by landscape architect Robert Truskowski.

The estate includes 11 bedrooms, formal living and reception areas, an indoor-outdoor dining room, an owner’s office, a wine room, a gym and a private spa suite.

A digital screening room was constructed to meet Bel Air Circuit specifications, allowing first-run films to be shown privately at the residence. The property also contains a professional tennis court with an air-conditioned viewing house and kitchenette.

Outside, the estate includes landscaped gardens, city views, a swimming pool and an air-conditioned pool house with its own kitchen. Separate accommodations were created for guests, staff and security personnel.

The residence is equipped with an elevator, updated lighting and audio systems and an internal generator plant that the listing states can power the property for more than one week.

Villa Lulu’s sale closes one of Beverly Hills’ longest-running residential listings. While the final price came in far below its original target, the transaction still ranks among the city’s largest recent residential sales and places the estate under new ownership for the first time in more than a decade.