Peter Morton buys 9,000 Square-foot mansion

Hard Rock Café co-founder Peter Morton has bought the 9,000-square-foot mansion of radio-station mogul Norman Pattiz and his wife Mary in Beverly Hills, Calif., but a Morton spokesman is telling the Wall Street Journal that the deal was cancelled. No link is available to the story, unfortunately. The deal would have been a big one. The mansion, which was built about 1940, was listed for $27 million and later lowered to $19.95 million. In addition, the mansion previously was owned by media mogul and philanthropist David Geffen and before that, by actress Marlo Thomas.

In other national real estate news, the co-founder of lip-balm and personal-care product maker Burt’s Bees is trying to sell three of her four houses in Palm Beach, Fla. for $2.95 million, $2.85 million, $2.75 million and $2.4 million. Roxanne Quimby told the Journal that she will unload the first three that find buyers and then keep the remaining house. And a Beverly Hills compound that is owned by a Saudi businessman has experienced a major price reduction—from $65 million last year to $33 million now. On more than 25 acres, the compound has an almost-finished main house, a 12,500-square-foot entertainment facility, a 6,000-square-foot carriage house and an 1,800-square-foot guest house, the Journal reported.

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