Los Angeles party mansion sells for a multimillion-dollar loss

It’s got an infinity pool and rooftop deck, but that wasn’t enough to stop this LA party pad from selling for a loss.

The mega-mansion in Beverly Hills just traded in an off-market deal for $US23 million ($A29.7 million), Dirt.com reports.

It last sold for $US33 million in 2016, marking an eight-figure loss for the seller, British restaurateur Richard Caring.

But is it a bargain for the buyer, reported to be LA-based real estate investor Joe Fryzer? Secondhand contemporary mansions can struggle in the resale market as they have high running costs, they’re competing with even newer builds that boast better amenities, they can lack the cachet of a big-name architect, and they tend to come up for sale more often than traditional houses as they’re often used as secondary residences, according to Dirt.

This mansion was built in 2013 and sold the following year for $US31 million, yet the market now values it at a lower price point.

The six-bedroom entertainer’s residence offers sweeping views across downtown LA and the coast.

A spacious open-plan living area flows through to outdoor dining and an infinity pool that connects to a moat that wraps around the residence.

The main bedroom covers the entire top floor and has its own lounge, walk-in wardrobe and private deck with a spa.

Other features include a secret Zen garden, movie theatre, gym, guest house, putting green, wine cellar, outdoor kitchen and smart home technology.