GloucesterTimes.com, Gloucester, MA

Real Estate News

July 2, 2012

Ryan Phillippe’s Home Back on the Market for $6.995 Million

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Source: IMDb

Real estate can be restorative, or perhaps that's what actor Ryan Phillippe was hoping when he bought a new home coined "Rising Zen" after his divorce from actress Reese Witherspoon.

After two years at the peaceful estate, Phillippe was ready to move on and put the property on the Hollywood Hills real estate market for $7.45 million in late 2010. However it wasn't the best timing for selling; with the steady down tick of home prices and strong recession hitting much of the U.S., Phillippe's home didn't sell, and the listing was removed in 2011.

Seven months later with a 6.1 percent price cut and new real estate agent, Phillippe is trying the market again. The home is listed for $6.995 million with Billy Rose of The Agency.

Built in 1998, the home was coined "Rising Zen" due to its combination of Asian and modern architecture. While the 5-bedroom, 6.5-bathroom count of this home is impressive in itself, the amenities that follow are even better. The home features a state-of-the-art, two-story gym directly off the master suite, a media room, art studio, koi pond, a step-down bar with an aquarium backdrop, cook's kitchen with breakfast area and floor-to-ceiling windows that offer fantastic city views.

The outdoor space is even more impressive, featuring amenities typical of an indoor-outdoor California lifestyle: outdoor kitchen, shower, sauna and canopied fire pit as well as an "eco-friendly" pool with underwater speakers.

But best of all, the home has "stoparazzi," a term coined by listing agent Rose to describe properties hidden behind gates and tall hedges with extensive security systems that effectively stop the paparazzi from harassing celebrities in their private homes.

According to Zillow's mortgage calculator, a monthly payment on Phillippe's home would be $25,157, assuming a 20 percent down payment on a 30-year mortgage.

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