Los Angeles has long been a playground for the ultra-wealthy, a city where luxury real estate isn’t just about square footage—it’s about lifestyle, legacy, and narrative. Few homes capture that spirit quite like the sprawling Holmby Hills estate owned by British billionaire Nick Candy. Originally listed in 2022 for a staggering $85 million, the price has now been shaved down to $59.5 million, following multiple reductions. It's the kind of property that feels more like a modern-day palace than a traditional home, yet even the richest buyers seem to be hesitating.
It’s not often that a house in one of LA’s most elite enclaves comes with a backstory that includes two of Britain’s most famous real estate developers. Nick Candy, known as one half of the Candy brothers duo who reshaped London’s luxury skyline with projects like One Hyde Park, bought the Holmby Hills property from his brother Christian in 2018. Christian had owned the estate since 2013, and Nick’s purchase for $28.5 million seemed like a familial handoff rather than a business transaction. Since then, Nick has poured resources and vision into transforming the space, adding features like a three-story guest house and reimagining the interiors to reflect a level of opulence rarely seen even in this rarified market.
Walking through the main house is like stepping into a curated gallery of modern luxury. Spanning 11,000 square feet, the single-story residence features soaring 14-foot ceilings and walls of glass that dissolve into the lush gardens outside. The layout is clean and open, yet warm, with natural materials, rich textures, and ambient lighting that changes the mood from day to night. Five oversized bedroom suites offer sanctuary-like privacy, while shared spaces like the formal lounge bring a touch of old Hollywood glamour with its Art Deco-style bar. That lounge, with its polished brass accents and velvet seating, wouldn’t feel out of place in a Wes Anderson film.
There’s a quiet sense of extravagance throughout the home—nothing is loud or gaudy, but every detail seems tailored to a client who knows exactly what they want. Take the wine room, for instance. It’s not just a place to store bottles but a designed experience, with built-in tasting counters and ambient temperature zones. Or the French regency-style theater, which doesn’t simply play movies—it transports guests to another era, with plush vintage seats, carved moldings, and velvet curtains that rise with cinematic flair.
But perhaps the most telling feature is the children’s playroom. While many ultra-luxury homes throw in a media room or gym, few take such care to enchant the younger members of the household. Candy’s design includes a two-story playhouse and a slide that drops into a sunken ball pit—every detail speaking to a life where even childhood is elevated by taste and design. It’s whimsical, yes, but also deeply personal. Buyers with families will see not just a showpiece but a place where memories are meant to be made.
The guest house, which clocks in at 10,000 square feet, echoes the architectural style of the main residence but functions almost as a compound of its own. With five more bedroom suites, its own kitchen, a large living area, gym, and spa, the guest quarters offer all the amenities of a boutique resort. The facade, marked by bold stone pillars and minimalist symmetry, adds to the sense that this estate is meant to impress, yet comfort. It’s a place where a visiting executive could stay for months, or where extended family could live in parallel harmony, without sacrificing an ounce of privacy.
Outside, the estate continues to deliver. The nearly two-acre lot is fully landscaped, with winding pathways, water features, and intimate seating nooks nestled between tall hedges and flowering trees. The 50-foot swimming pool stretches out like a runway, framed by loungers and cabanas that wouldn’t look out of place in a five-star resort. A professional-grade tennis court sits tucked into a corner of the property, complete with its own viewing lounge for post-match relaxation. For those who see real estate not just as an investment but as a full-bodied lifestyle, these outdoor amenities offer more than curb appeal—they suggest continuity, routine, and the possibility of everyday luxury.
Still, even with all this polish, the house remains unsold after two years. The L.A. luxury real estate market has shifted dramatically since 2022. New taxes targeting high-value property sales, along with interest rate hikes and global economic uncertainty, have slowed down even the most resilient sectors of the market. While Candy’s home is in a different league from the average seven-figure listing, it’s not immune to these broader forces. Wealthy buyers, especially those from international backgrounds, have become more cautious. They’re looking for value, not just glamour.
Mauricio Umansky, one of the agents representing the property, knows this better than anyone. His clientele includes celebrities, tech moguls, and international investors—all people who can afford $60 million homes but increasingly want them to feel like real investments. Properties like Candy’s need to offer not just style, but substance. That means more than stunning design; it means functionality, future appreciation, and cultural cachet.
One issue, perhaps, is timing. When Candy first listed the estate at $85 million, the pandemic-era housing boom was still fresh. Ultra-luxury homes were selling fast to buyers flush with stock market wealth and pandemic-induced urgency. But as the market normalized, even prestige addresses like Holmby Hills faced more scrutiny. Buyers began asking tougher questions. Is the home priced for today’s market or yesterday’s dream? Does it align with the newer definitions of luxury, which now lean more sustainable, discreet, and tech-forward?
It’s worth noting that Candy himself has pivoted over the years. From London high-rises to LA villas, and from property development into venture capital, his career reflects a broader shift in how wealth is being built and spent. Candy Ventures and Candy Capital now represent a diversified portfolio of interests, and perhaps this price drop reflects a larger recalibration of what he sees as worth holding onto. For billionaires like Candy, selling a home is rarely about need; it’s about strategy.
The psychology of listing a home like this can be complex. Luxury properties are often marketed with the same philosophy as collectible art: exclusivity, narrative, and aspiration. But art doesn’t come with maintenance bills and property taxes. A home, no matter how exquisite, must eventually sell. And with every price cut, the narrative shifts slightly. What once felt like a unicorn listing at $85 million now feels like a hidden gem waiting for the right moment—and the right buyer.
It’s also a reminder that even at the top of the market, perception matters. The same house with the same features can look wildly different depending on how it’s presented, when it’s listed, and how long it sits. Real estate, at this level, becomes a story as much as a transaction. It’s about romance, identity, and lifestyle alignment. For a buyer with a bold imagination, this estate might represent the perfect canvas.
The challenge now is to reframe the listing without diluting its value. In a world where more luxury buyers are emerging from the tech and finance sectors, the traditional language of European-style grandeur must meet modern expectations: smart-home integration, green building certifications, adaptive floorplans. That doesn’t mean Candy’s home is behind the times—far from it—but it does mean that selling a mansion today is no longer just about marble finishes and cinematic flair.
And so the estate remains—quiet, elegant, and waiting. As the market continues to evolve, one suspects it won’t be long before someone with the right mix of imagination, capital, and timing sees in it what Nick Candy saw years ago: not just a property, but a dream with a driveway.