Kaylah Walton
A century of days has gone by since Jennifer Lopez and Ben Affleck put their opulent Crestview Manor in Los Angeles on the market for a staggering $68 million. This decision coincides with their much-discussed divorce filing, signifying a major change in their relationship.
Although the property is impressive and has received recent upgrades, it has faced a slower sales process than expected. They acquired the estate in May 2023 for $60.8 million, which spans an impressive 38,000 square feet on 5.2 acres of land.
The mansion, featuring 12 bedrooms and 24 bathrooms, has undergone significant renovations to enhance its luxury status before hitting the market again this year.
Concerns for Lopez and Affleck
According to Jason Oppenheim from Selling Sunset, there’s no need for Lopez and Affleck to worry too much about reaching the 100-day mark.
“It’s quite normal for a property of this caliber to remain unsold for over 100 days,” Oppenheim shared with Realtor.com. “Typically, high-end homes can take six months or longer to sell.”
He pointed out that the luxury real estate market is quite specific, attracting only a small volume of buyers due to the high costs involved.
Realtor.com added that there are several reasons behind the property’s longer time on the market. Wealthy buyers usually have limited listings to consider and may browse multiple options, often postponing their decisions in anticipation of potential price reductions.
Moreover, the estate incurs substantial monthly expenses, estimated around $283,666, which includes taxes, security, and homeowners association dues.
Such costs can impact the overall sale timeline.
Crestview Manor is equipped with numerous upscale features, such as a grand 5,000-square-foot penthouse, a two-bedroom guardhouse, a caretaker’s quarters, and a large garage that can accommodate up to twelve cars. These luxurious amenities place it in competition with other high-end homes in the Los Angeles vicinity.
