By SARAH SHMERLING | Managing Editor
The former Riviera home of the Reagan family is pending sale, with the listing showing a price tag of nearly $25 million—$8 million lower from the price it went on the market with in early 2016.
Photos courtesy of MLS
This was the home where on Nov. 4, 1980, then-California Governor Ronald Reagan received a call from Jimmy Carter, who said, “Mr. Reagan? Congratulations. You’re president of the United States.”
Legend has it, Ronald was in the shower and his wife Nancy was in the bath when the phone rang. Nancy answered it and handed him the phone.
“Regan came to own the home after falling in love with the rugged and then rather isolated mountainous area of Pacific Palisades,” a Daily Mail article read.
With seven bedrooms and nine-and-a-half baths, the Spanish Eclectic home boasts “spectacular views from downtown to Catalina,” according to realtor.com.
The property combines new construction with old-world craftsmanship, originally built in 1956 and purchased by developers for a little over $5 million in 2012—when the home was 4,700-square-foot and a single story.
According to the listing, the home features a grand, two-story entry, expansive living room, pro screening room, formal dining and paneled library—all open to panoramic views.
The home is represented by Kurt Rappaport at Westside Estate Agency.
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