Former home of Ricky Martin, Michael Cain sells for half initial price
The former Beverly Hills perch once called home by Ricky Martin and Michael Caine sold this week for $35 million — a $40 million dip from its original price tag.
The sprawling modern Tuscan-style mansion hit the market for $75 million in August of 2024. In addition to Martin and Caine, the home’s roster of A-list former occupants also includes the family of actress Doris Day.
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Finding no takers in August, the pricey listing was handed over to broker Carl Gambino of the Gambino Group at Compass. A hefty price adjustment of $25 million followed, down to $49.9 million. The subsequent sale, which closed on Tuesday, was first reported by The Real Deal.
A tree-lined drive fronts the gated estate, terminating in a motor court with room for more than 20 cars. The acreage includes a main residence, a guest house, a tennis court pavilion, a children’s playground and a security house.
From its elevated perch, the 2.37-acre property boasts views of the Los Angeles skyline and the Pacific Ocean. Its well-heeled neighbors include the Pritzker and Murdoch families, according to the listing, as well as the future site of the Gates estate.
The successful sale ended the LA real estate market’s turbulent year on a high note. A recently updated mansion tax and the January 2025 wildfires contributed to a muted market for LA trophy mansions, The Post previously reported.
Massive homes collected dust and racked up discounts, including the hilltop home of exes Jennifer Lopez and Ben Affleck. Milwaukee Brewers minority owner Robert Beyer took a 40% hit on the September sale of his Brentwood estate.
The family of American actress and singer Doris Day previously owned the recently sold estate, according to the listing, followed by actor Michael Caine.
Pop star Rickey Martin purchased the abode in 2004 for $10.9 million, according to property records. Martin departed two years later, records show, selling the home to billionaire investor Michael Smith. The property’s most recent deed in 2018 listed an LLC owner, 1309 Davies.
The mansion’s asking price of $49.9 million successfully attracted an unnamed buyer at the end of December. The deal closed at a discounted $35 million, according to public records. Both the seller and the buyer were represented by Gambino.
Gambino declined to comment on the deal.
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