You’ll probably remember Formula One heiress Petra Ecclestone from her beyond messy divorce from James Stunt a few years back.

Now she’s back in the news because she’s cut the asking price in her massive Los Angeles mansion.

The mansion went on the market in 2016, and nobody seems to want it.

This might have something to do with the fact that at the new price of $160 million (around R2,25 billion), it’s a 20% discount from her original ask, but still 60% above the highest price ever achieved in the city, reports Forbes.

In 2011, at age 22, Ecclestone, the daughter of of Formula One billionaire Bernie, bought the 56,500-square-foot home for $85 million. The all-cash deal was eye-popping at the time, among the first in a string of high-eight-figure and eventually nine-figure home sales through around 2016.

…Ecclestone spent a reported $20 million and several years renovating the former Spelling Manor, which late television producer Aaron Spelling and his wife Candy built in 1988—the same year Ecclestone was born.

The original asking price was $200 million and it stayed that way until June 2018. The property now has new representation and a lower asking price.

“We think that this is an amazing price for this property,” says listing agent Jade Mills. “The land, the house size—you can bring your toothbrush and move right in.”

A toothbrush might be all you can afford after dropping $160 million on a house.

Did I mention that it’s near the former Playboy mansion?

Not sure if that’s a plus or not. That is a lot of dough, so it better deliver the goods.

You can see more on the listing here.

[source:forbes]