Tour an over-the-top, seven-bedroom and 11-bath mansion in Los Angeles that includes a Kobe-Bryant-themed basketball court, car showroom and a 70-foot infinity pool that appears to float some 45 feet above the mountainside. The owner, who wants to sell before April 1, is prepared to lose millions on it. Here’s why: He bought the home less than two years ago for $44 million, then tried to sell the house a year later for $48 million. When there were no takers that asking price was chopped down by $10 million. The deeply discounted list price is now $38 million. To put that price reduction into perspective, it amounts to the home dropping almost $64,000 in value every single week for 94 weeks straight since the seller bought it in 2021. But those potential losses go even higher on April 1 when the city of LA enacts a 5.5% mansion tax on all real estate deals over $10 million. If the residence doesn’t sell soon that new tax will add a $2.1 million tax bill to the deal, which could bring the seller’s losses to just over $8.1 million. CNBC’s Ray Parisi takes you on an exclusive tour with listing agent Dan Malka of Ikon Advisors. And near the end of the tour Malka openly discusses the home’s dramatic price cuts, and why he wants to get it sold before April Fool’s Day.
