Kylie Jenner pulls $38.5m Los Angeles mansion off market

Kylie Jenner, the American reality television star and founder of Kylie Cosmetics, has taken her mansion in the Holmby Hills area of Los Angeles off the market, months after cutting the asking price to $38.5 million.

The 29-year-old first listed the seven-bedroom house on Mapleton Drive on Dec. 22 last year for $48 million. It failed to sell, and she withdrew it earlier this year before putting it back on the market at the end of June at $38.5 million, a cut of $9.5 million, with new photos and a new description. The listing has now been removed again. Ginger Glass of Compass was the listing agent.

Jenner bought the property in 2020 for $36.5 million, so even the reduced price would have left her with a gain of $2 million before costs.

A guarded estate

The house covers 15,320 square feet, with seven bedrooms and 9.5 bathrooms. The compound sits behind 12-foot gates and perimeter walls and also includes two guest apartments, a guard house and a separate gym building. The listing called it a “modern fortress designed for the ultimate privacy seeker.”

Inside are a home theater, a game room, a children’s playroom with an indoor slide and a primary suite in its own wing with three fireplaces. The grounds have an infinity-edge pool, a pool cabana, a commercial-grade outdoor kitchen, an outdoor projection screen, a basketball court and a professional pickleball court.

Holmby Hills, which sits between Beverly Hills and Bel Air, is one of the most expensive neighborhoods in Los Angeles.

Sale in Hidden Hills

The move comes about a month after Jenner sold her longtime home in Hidden Hills, a gated community northwest of downtown Los Angeles. She bought that 13,200-square-foot house for $12.05 million in 2016, when she was 19, listed it in March for $20.25 million and sold it in September for $15.3 million.

A much larger home nearby is almost finished. In 2020, Jenner paid $15 million for a plot of land in Hidden Hills, where she has been building an 18,000-square-foot estate with a 12-car garage, a guest house, a sport court, a security office and a large pool.

The business behind the homes

Jenner’s fortune comes largely from her beauty business. She started Kylie Cosmetics in 2015 with a line of lip kits sold online, using her large social media following to market the products directly to fans. In 2019 she agreed to sell a 51% stake in the company to Coty Inc., the New York-listed beauty company, for $600 million, a deal that valued the brand at $1.2 billion.

She has since added other ventures, including the clothing label Khy and Sprinter, a canned vodka soda brand. Jenner rose to fame on the reality series “Keeping Up With the Kardashians” and now appears on its successor, “The Kardashians.”