Mansion in Holmby Hills Has Highest Price in City History.

If there ever were a time to try to sell an obscenely expensive home property in Los Angeles, it's now.

Even if the asking price happens to be $58.9 million.

"In a rising market, you never know what something is worth," said Brooke Knapp, broker at Sotheby's International Realty, who has the distinction of listing the highest-priced residence in L.A. County history. "The price was determined by the owner having interviewed many real estate agents."

The 8.5-acre parcel listed by Knapp contains two mansions being sold as a group in Holmby Hills.

The site's main residence is a Tuscan-style mansion with more than 20 rooms occupying 12,200 square feet and featuring elaborate ceiling moldings, mahogany paneling and fireplaces. Built in 1936, it's a former home to Tony Curtis, and later Sonny and Cher.

A golf-cart drive away sits a second Spanish-villa-style home with 8,100 square feet that was once owned by Esther Williams. The expansive grounds contain rolling lawns, gardens, a tiered fountain and reflecting pool.

Located at 141 S. Carolwood Drive, the compound is held by a Middle Eastern family trust called Magdalenian Investments.

Although Knapp hasn't received an offer on the property since it was listed in September, she said that's not unusual.

"It often takes two to seven years to sell a property like this," Knapp said. "We've had considerable interest and have shown it every two weeks."

Though the estate is the most expensive home listing in L.A., it isn't the region's most expensive property. One home that has been quietly shown through real estate circles for the past two years is the $60 million limestone French chateau in Bel-Air built by bonds-broker-philanthropist B. Gerald Cantor and his wife Iris. However, it hasn't been officially listed.

The most ever paid for a single-family residential property in Los Angeles was $47.5 million by music mogul David Geffen for the 10-acre Jack L. Warner estate in Beverly Hills. Recently, nutritional supplement maker Mark Hughes paid $25 million for the Malibu beachfront home of Verna Harrah, widow of the late casino magnate William F. Harrah.

Though the Magdalenian property fronts Sunset Boulevard, which some brokers say decreases its value because of the noise and traffic, Knapp counters that the property's unique features make it an unparalleled opportunity.

"It's an enchanting property with lights and trees. What value can you put on that? It's not like you can walk down the street and buy another like this," Knapp said.