Andy Wiederhorn’s West Hills mansion, seized in foreclosure, on the market for $3.5 million
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on April 17, 2015 at 12:11 PM, updated April 17, 2015 at 12:31 PM
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The West Hills mansion once owned by financier Andy Wiederhorn is on the market for $3.5 million.
CitiMortgage Inc., which seized the house in a foreclosure auction last year, is asking $3.495 million. Wiederhorn previously told The Oregonian/OregonLive the home, which he and his wife called “The Ivy,” would cost $12 million to rebuild from scratch.
CitiMortgage first listed the house for sale in December for $3.6 million.
Wiederhorn was a lauded financier in Portland the 1990s and amassed $100 million in personal wealth by the age 31, but he found himself implicated in a financial scandal in 2000. He spent 15 months in prison after pleading guilty to charges of paying an illegal gratuity and filing a false tax return.
Today, Wiederhorn lives in Los Angeles as the CEO of the burger chain Fatburger.
Wiederhorn stopped making payments on the house in 2010, by which time he had relocated to Southern California. It was on the market then, most recently asking $5.7 million.
The 19,600-square-foot house boasts 10 bedrooms, two kitchens, 11 fireplaces and nine full bathrooms, according to the listing.
Note: This post has been edited to reflect that the house has been on the market since December. The house was delisted and relisted on Friday at the same price.
— Elliot Njus