Few know better than Rocky Balboa about how the world “ain’t all sunshine and rainbows,” and so the iconic pro boxer — and his occasional alter ego Sylvester Stallone — are being realistic about taking a brutal monetary gut punch on their vacation retreat in the Palm Desert community of La Quinta, Calif., a couple hours by automobile southeast of Los Angeles. The Mediterranean-esque house is up for sale with a newly improved $3.35 million pricetag.
This isn’t the first, second or even third time that Stallone has publicly attempted to unload his white elephant of a desert oasis. Records reveal the Hollywood superstar acquired the property almost exactly a decade ago, in early 2010, for $4.5 million. However, it appears he immediately had a real estate change of heart; since way back in 2011, the house has been on and off the market with a series of steadily declining list prices.
The current $3.35 million ask means that even in the event of a full-price offer, Stallone is facing a nearly $1.2 million hard jab to his financial solar plexus, not counting portly realtor fees, taxes, closing costs and ten years of upkeep on the nearly 4,900 sq. ft. abode.
Sited in the exclusive and guard-gated Madison Club, the sprawling house sports a classic red tile roof and shares a driveway with three other nearly identical villas. Behind tall walls lies a private courtyard — exclusive to the Stallone residence — with a fountain and dining terrace surrounded by a lush garden.
Beyond a barrel-vaulted entrance foyer, the interior’s superstar is a 32-foot living room with double-height ceilings, a massively scaled stone fireplace and a media center. Just off that space is an open kitchen with a granite-slathered center island and top-notch stainless appliances. An adjoining dining area opens family-style to an outdoor kitchen and BBQ grill that services the alfresco dining terrace and overlooks a patch of grassy lawn spilling down to a manmade creek behind the rear border of the nearly half-acre lot.
There are two master suites in the house; one on the main floor and one upstairs. The former makes do with a fireplace and boozy wet bar in the bedroom, plus a spa-style bath with dual vanities and a sumptuous closet/dressing room with custom built-ins. Upstairs, the second master suite is a wee bit smaller but still manages to pack in another fireplace, walk-in closet, lavish bath and a private balcony that overlooks the ruggedly beautiful mountain range that rings the Coachella Valley.
Some of the other residents in the star-packed Madison Club — with its award-winning Tom Fazio-designed golf course — include Kris Jenner, Cindy Crawford and Rande Gerber, Ray Romano, Nike’s Phil Knight, Scooter Braun, Irving Azoff and Universal Music’s top dog Lucian Grainge, whose recent coronavirus hospitalization forced the Madison Club’s brief temporary closure. And though it hasn’t been widely reported as of yet, Apple CEO Tim Cook is believed to have recently acquired an extravagant mansion in the exclusive enclave.
Back in L.A., Stallone is one of the illustrious Beverly Park community’s most veteran residents. His nearly 20,000 sq. ft. manor was built in 1994 and is sited privately at the end of a whisper-quiet cul-de-sac, overlooking the L.A. basin far below. Some of his nearest neighbors in the guard-gated nabe include Denzel Washington, Eddie Murphy, Kimora Lee Simmons, Mark Wahlberg and Viacom kingpin Sumner Redstone, who celebrates his 97th birthday next week.
Josh Reef of Douglas Elliman holds the listing.