$41 million discount on Corona Del Mar mansion

Here's an example of how hard it can be to sell monster properties. This 22,000-square-foot beachfront estate, with eight bedrooms, 10 bathrooms and two saltwater pools surrounded by grotto cliffs, was first listed for $75 million in 2006 (just as the market was peaking out). A year later it came off the market and then earlier this year it was re-listed at $49.6 million. WSJ reports that the property has finally been sold for $34.1 million, with the seller kicking in a property valued at around $7 million. The buyer purchased the home through a limited liability company managed by Fariborz Maseeh, an entrepreneur and philanthropist.