Canadian entrepreneur and “Shark Tank” star Robert Herjavec is known for his business acumen, but he isn’t faring so well on the real estate front. The Herjavec Group founder and CEO is so motivated to unload his Hollywood Hills home that he’s now willing to take a six-figure loss on the premises.
Scarcely two years ago, in July 2017, Herjavec paid $6.7 million for a striking contemporary manse in Outpost Estates, a hillside enclave just north of the bustling city of West Hollywood. The sleek contemporary pad — which was unfortunately burglarized earlier this year — features custom high-end finishes, smart home technology and panoramic views of the Downtown L.A. skyline.
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But those glitzy amenities haven’t been sufficient to woo a big-bucks buyer. After the house was initially listed in June 2019 at $7 million, the asking price has now been hacked down to $6.495 million. Even in the unlikely event of a full-price offer, Herjavec stands to lose $205,000 on the spread — not counting hefty associated costs like taxes, realtor fees and maintenance.
Set on a quiet cul-de-sac, the two-story home sports a towering, distinctive wood-and-concrete front facade guaranteed to either impress or frighten guests. Inside, the clean-lined interiors include decor with a nearly all-white motif, walls of glass and an open floorplan. There are ample spaces for lounging and dining, all of them open to the starkly minimalist kitchen, with its bar-style seating and chic designer appliances.
Five bedrooms are packed into the 4,500 sq. ft. structure; the master contains a private deck with L.A. basin views and a marble-trimmed bath. Out back, a raised wooden deck has a firepit and al fresco lounge space that overlooks the pool and raised spa. A wide swath of grassy lawn — unusually large for the tightly-packed Hollywood Hills — provides ample space for pooches to frolic and completes the backyard.
Although Herjavec may be forced to accept a wallet-punishing lowball offer on this house, he’s certainly staying afloat financially. As TMZ reports, he’s already in escrow on a new, more family-friendly estate in Hidden Hills, the guard-gated San Fernando Valley enclave where many of the residents are famously famous. The freshly-built “modern farmhouse” Herjavec has selected includes 13,000 square feet of living space, a tennis court, gym, and is listed with a whopping $15.5 million ask.
And last winter, Herjavec and his “Dancing With the Stars” partner-turned-wife Kym Johnson paid nearly $8 million for a Newport Beach, Calif. vacation home. Located on Balboa Peninsula’s northern shore, the contemporary structure was completely redone in 2017 and features harbor views and a private boat dock.