Guess Founder’s Beverly Hills Estate Listed for $24.5 Million

By Lauren A.E. Schuker

The Beverly Hills estate of fashion magnate Georges Marciano has been put on the market for $24.5 million—a 23% cut from when the home was quietly being shopped for $32 million earlier this year. In 2007, it was listed for $28 million.

The French-born businessman amassed his fortune by co-founding Guess Inc. with his brothers but recently has run into financial difficulty, prompting the sale of his Italian revival home under Chapter 11 bankruptcy, subject to court approval. The home is being sold on Marciano’s behalf as part of the Chapter 11 bankruptcy proceedings, according to the broker and court records. Marciano could not be reached for comment. A trustee for the sale declined to comment.

The seven-bedroom, nine-bathroom home spans 19,500 square feet and has an extensive Hollywood provenance. Designed in 1927 by Robert D. Farquhar, the estate once played home to Harry Cohn, the film producer who founded Columbia Pictures, which made “It Happened One Night.” Cohn was the first owner of the home. He later sold it to Johnny Hyde, a Hollywood talent agent who frequently had Marilyn Monroe over to the house.

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