“El Fureidis,” the elaborate California estate where scenes of the movie “Scarface” were filmed, has sold for $12.26 million—a fraction of its original asking price.
The roughly 10-acre Montecito property went on the market in May of 2014 for $35 million, then had its price cut to $17.9 million. It was listed by Riskin Partners and Emily Kellenberger of Village Properties Realtors. It went into contract in September and closed in late October, according to Robert Riskin, one of the listing agents [and scion of the firm’s founder, Rebecca Risken]. Mr. Riskin said the property was initially “overpriced,” and that the sales price “reflects its value.”
I wonder if, just as is done here, Mr. Riskin not only wildly overpriced the property at three-times its value this time, but also sold the “overpriced” living to the seller back in 2008, when he paid $20 million?