The most expensive home on the Santa Monica market just took a multimillion-dollar trim. The Howard Backen–designed estate at 859 Woodacres Road, a roughly 12,000-square-foot, six-bedroom compound perched above the Riviera Country Club, has dropped its asking price from $110 million to $88 million. In a market where nine-figure wish prices became a sport, this one is now a case study in what happens when gravity finally kicks in.
The Beverly Hills Estates listing now asks $88 million, a $22 million cut that works out to about 20 percent off, according to The Real Deal. The markdown was first flagged by Mansion Global and then detailed by TRD, which notes that the listing leans hard on features like a geothermal energy system and an on-site spa and wellness center. For brokers and ultra-wealthy buyers, the move reads as a signal that even trophy sellers are starting to dial back their most ambitious nine-figure dreams to get phones ringing.
Public records, along with a contemporaneous report in the Los Angeles Times, show the property last traded in 2017 for just over $41 million. The seller was listed as a trust tied to “Modern Family” co-creator Steven Levitan, and the buyer was linked to Kevin L. Washington. Listing materials from The Beverly Hills Estates and MLS entries peg the home at about 12,240 square feet and highlight amenities such as a home theater and a temperature-controlled wine cellar. The MLS details and agent-of-record information place the property squarely in the wheelhouse of brokers who regularly traffic in Los Angeles trophy real estate.
Price Cuts At The Top Of The Market
The Woodacres discount is not happening in a vacuum. Across Beverly Hills and Bel Air, marquee listings have been quietly marching their prices downward as reality catches up with pandemic-era exuberance. The Real Deal points to recent relistings and deals, including a Bel Air mansion re-priced to just under $100 million and several other high-end properties that only moved after sizable cuts, as signs of a broader recalibration. Sellers of sprawling, made-for-a-drone-shot estates are increasingly weighing how long they are willing to wait against how far they are willing to come down.
What The House Offers
Designed by the late Howard Backen, the compound sits along the seventh hole of the Riviera Country Club and is marketed as effectively off-grid, thanks to a geothermal system and private power setup, according to The Beverly Hills Estates. The description calls out a dedicated spa and wellness center, a separate guest house, a generous motor court, and a so-called “man cave” equipped with a golf simulator, bar, and games. The marketing also leans into classic Los Angeles talking points like seamless indoor-outdoor living and sweeping views of the Santa Monica Mountains.
Branden and Rayni Williams of The Beverly Hills Estates are named as the listing agents in MLS records and are handling showings, according to Compass and other MLS feeds. The property first hit the market last summer at a nine-figure ask and was one of the rare Santa Monica listings to crack the $100 million line. That made it a closely watched test of just how far buyers would go for a Westside trophy. Whether the rollback to $88 million triggers a quick sale or simply opens the door to more aggressive negotiating will come down to how many deep-pocketed shoppers are actually circling the ultra-luxury segment above $50 million.
For Santa Monica, the new price on Woodacres is a reality check at the very top of the food chain. A home that once served as a bold wager on nine-figure pricing is now being pitched at a still eye-popping but less fantastical $88 million. Brokers and buyers will be watching closely to see whether this reset sparks serious offers or simply redraws the line on what trophy hunters are willing to pay in 2026. For now, one of the city’s most high-profile lots is functioning as a bellwether for just how much heat remains in the Westside’s luxury market.
