Diane Keaton’s Former Beverly Hills Mansion Gets $5 Million Price Cut

A historic Spanish Colonial Revival estate in the Beverly Hills Flats has hit the market with a significant price reduction. Once the home of Academy Award winner Diane Keaton, the property is now listed for nearly $5 million less than its previous asking price. The mansion, located at 820 North Roxbury Drive, is renowned for its architectural pedigree and a slate of high-profile former owners.

Beyond Keaton, the seven-bedroom residence has hosted a rotating door of A-list occupants, including pop icon Madonna and television mogul Ryan Murphy. The home is celebrated for its blend of classic 1920s elegance and modern luxury, featuring a sprawling floor plan that has long made it a trophy property in one of the most exclusive neighborhoods in Los Angeles.

The price cut signals a shift in the local luxury market as sellers look to attract buyers amid changing economic conditions. Observers are watching to see if this substantial discount will finally move the needle on a property that carries such immense Hollywood history. Real estate experts suggest that the "celebrity provenance" often adds a premium, but even the most famous homes must eventually align with market realities.

The reported price adjustment reflects a broader trend of recalibrating expectations for ultra-high-end real estate in Southern California. Whether the $5 million drop is enough to secure a buyer for the Roxbury Drive estate remains to be seen. This story was originally reported by The Real Deal.