L.A.’s $100 Million Megamansions Are Getting Mega Price Cuts

The house is missing just one crucial thing: a buyer. In an effort to lure one, the developers relisted the house for $59 million last month, a 41% reduction from its $100 million price tag in 2018. Sellers are slashing prices for the area’s ultraluxury properties amid a broader slowdown, citing an impending new mansion tax and proposed restrictions on new construction.