The mansion in Los Angeles' Encino area that singer Macy Gray once owned -- and that has since been extensively rehabbed -- has undergone a significant price cut down to $8,495,000, far below its original $11,700,000 asking price.


In a Big Time Listings exclusive, we can report on the new listing price for the mansion at 4322 Hayvenhurst Avenue in Encino. The property's new asking price hit the MLS on January 15.

In November 2007, the owners of the mansion placed the house on the market for an eye-popping (for Encino) $11,700,000. They later reduced the price last spring to $9,996,000, as we exclusively had reported in March 2008.

Built in 1998, the house has eight bedrooms and nine baths, and it has more than 14,000 square feet of space, according to listing information (although public records still show that the house measures "only" 9,936 square feet! And, a source had told us that the person who rehabbed the house did *not* expand the house's footprint.). All bedrooms are bedroom suites, and the house also has a wine cellar, a media room, a chef's kitchen with Carrara marble countertops and a 60-inch range, according to listing information. Outside on the 1.078-acre property are a resort pool and spa, a north-south lighted tennis court and a two-bedroom guest house, according to listing information.

Records show that Gray sold the mansion -- before it was rehabbed -- in December 2006 for $4,750,000. We had broken that story of Gray's sale in January 2007, but that post was lost in the hacking attack that befell our blog last summer. We'll try to restore that item at some point.

Check out a current online listing sheet for the Hayvenhurst Avenue house -- complete with photos.

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