LOS ANGELES - The 112-acre Robert Taylor Ranch in Mandeville Canyon will go up for sale in a live auction later this month.
The property was originally listed for $65 million. It will sell to the highest bidder regardless of price during the Nov. 30 auction, which will be conducted by New York-based Concierge Auctions.
The secluded compound with acres of rolling pastures and woodlands was built in 1950 for petroleum magnate Waite Phillips. The structures were designed by architect Robert Byrd.
The actual home has 34 rooms covering nearly 12,000 square feet. The house has a wing for guests and one for staff. The property includes a pool, tennis court and is known for its horse stables and riding trails that lead to Will Rogers State Historic Park.
"The Robert Taylor Ranch defines exclusivity. It lies within a prime location in Mandeville Canyon, known for its lush greenery, ideal for hiking, biking and horseback riding," said Marcie Hartley, with Christie's International Real Estate affiliate Hilton & Hyland. "It's an escape from the hustle of the city yet mere minutes from Los Angeles' prime west side amenities."
The ranch was the set for "The Osterman Weekend," the 1983 Sam Peckinpah movie starring Dennis Hopper and Craig T. Nelson.
It was sold to hedge fund New Stream Capital in 2010 to settle a legal claim. The hedge fund went bankrupt, and the ranch is now owned by a trust.
Laura Brady, president of Concierge Auctions, said she is "excited to be part of this monumental, once-in-a-lifetime auction.
"To find over 100 acres this close to the heart of Los Angeles is unique in itself. Coupled with an owning trust that has requested a closing by the end of the year, there's no denying this is one of the best luxury buying opportunities in the nation today," Brady said.
The property is open for preview daily from 1 p.m. to 4 p.m.