Mark Wahlberg's former mansion in Beverly Hills, a symbol of luxury living.
Beverly Hills, 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 2023, Hollywood actor Mark Wahlberg sold his expansive Beverly Hills mansion for $55 million. Originally listed at $87.5 million, the property was put on the market with a significant price reduction aimed at avoiding the upcoming mansion tax in Los Angeles. The mansion, which spans 30,500 square feet, was sold before the tax took effect but soon became the subject of a profitable resale.
The buyer, who was later revealed to be Paris Hilton and her husband Carter Reum, flipped the property shortly after purchasing it for $63 million, securing a profit despite the mansion tax. The quick turnaround exemplifies the ongoing strength in the luxury real estate market in Southern California.
The mansion was initially listed at a high price but was strategically reduced to facilitate a sale. The new owners, Hilton and Reum, have a history of acquiring real estate in the area after their Malibu home was destroyed by wildfires. Their purchase of the Beverly Hills property and subsequent sale indicates active investment and high demand within Los Angeles’ luxury market.
Despite the mansion tax, which aims to target high-value property transactions, Hilton and Reum managed to profit by executing a swift flip. This trend reflects a broader pattern of wealthy buyers and investors leveraging market dynamics to maximize returns.
In June, Los Angeles topped national sales charts for high-end homes, with five of the ten most expensive properties sold nationwide located in California. Beverly Hills, Bel Air, and Atherton emerged as hotspots, with notable sales in the region driving industry optimism.
Agents and industry insiders observed increased activity driven by fire-displaced buyers from California’s wildfire zones seeking refuge and new investment opportunities in luxury neighborhoods. This demand is fueling more sales of multi-million dollar estates and commercial properties in the area.
The overall market strength is also bolstered by international demand, especially from Chinese buyers, who are increasingly active in Beverly Hills and Bel Air. Real estate professionals pointed out that foreign investment significantly contributes to the high-value transactions.
Among recent high-profile sales is a $32 million transaction involving a spec home in Bel Air, bought by Richard Saghian, CEO of Fashion Nova. Saghian plans to use this property as a temporary residence while upgrading his larger, over 100,000 square feet mansion, called The One. This estate was purchased at auction for $126 million in 2022.
Additional sales include an unlisted property sold for approximately $60 million and a $38.8 million luxury home in Palm Beach, Florida, highlighting the nationwide strength of the luxury real estate market.
A notable estate in Beverly Hills, formerly owned by Cary Grant, has recently undergone extensive renovation. Originally purchased in 1946 for just $46,000, the estate was demolished and rebuilt into a 15,700-square-foot mansion completed in 2022. The estate features seven bedrooms, 13 bathrooms, a 52-foot pool, tennis court, and a wine room with climate control.
Currently listed at $77.5 million, the estate is on the market as Grant’s widow, Barbara, and her husband plan to downsize. The property boasts panoramic city-to-ocean views and large outdoor terraces, making it a prime example of luxury living in Los Angeles.
Los Angeles continues to experience robust activity in its luxury real estate sector, driven by high-net-worth individuals, international buyers, and market-savvy investors. The recent sale and flip of Wahlberg’s Beverly Hills mansion exemplify current trends of price adjustments to maximize profit, despite rising taxes. The city’s rich estate history, ongoing new developments, and persistent demand across neighborhoods like Beverly Hills, Bel Air, and Atherton keep LA at the forefront of luxury property markets nationwide.
The mansion was sold at a reduced price to avoid the upcoming mansion tax in Los Angeles, prompting Wahlberg to sell the property quickly before the tax took effect.
The buyer was Paris Hilton and her husband Carter Reum, who purchased the property for $63 million and quickly flipped it for $63 million, making a profit.
The market is experiencing high demand driven by fire-displaced buyers and significant international interest, especially from China. There is also active buying of high-end estates and new development projects in neighborhoods like Beverly Hills and Bel Air.
The Beverly Hills estate formerly owned by Cary Grant is on the market for $77.5 million. Additionally, new developments include a modern mansion in Bel Air listed at approximately $118 million.
| Feature | Details |
|---|---|
| Property Type | Luxury Mansion / Estate |
| Size | 30,500 sq ft (Wahlberg’s mansion) / 15,700 sq ft (Grant estate) |
| Price at Sale | $55 million (initial) / $63 million (flip) |
| Rebuilt Estate (Grant) | 2022, includes 7 bedrooms, 13 bathrooms, pool, tennis court |
| Market Trends | High demand, price reductions, international buyers, active flipping |
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