The KISS bassist and co-lead singer’s 13,405-square-foot Beverly Hills residence sold last week for $9 million less than it was listed for in March, when it was priced at $25 million, according to the Multiple Listing Service. It was most recently asking just under $20 million, according to Matthew and Joshua Altman of the Altman Brothers team at Douglas Elliman.
Mr. Simmons, 72, made several upgrades to the home between the end of 2020 and its relisting in March, "with well over six figures put into the house," Joshua Altman told Mansion Global at the time.
Mr. Altman also said the home was underpriced when it was first listed, noting the team was "inundated with showing requests."
Nevertheless, the price was cut by 12% within the first month of it being back on the market, and then again in May to its final asking price of $19.995 million, according to listing records.
Even then, the home sold for a nearly 20% discount compared to its most recent listing price.
The Altmans were unavailable for comment for this article.
Mr. Simmons and his wife, model and actor Shannon Tweed, 64—his girlfriend at the time—acquired the residence in 1984 for $1.35 million, according to property records. The couple redeveloped the property to build the seven-bedroom, nine-bathroom European-style home, The Wall Street Journal reported when the property was originally listed. The rocker said he put at least $12 million into the estate.
Located on close to 2 acres in Benedict Canyon area of Los Angeles, the home features an open floor plan with 30-foot windows and a gallery, a billiards room, living and dining rooms with coffered ceilings and several wrought iron terraces with views of the grounds.
"You can open the doors and walk out on your balcony like Mussolini waving out at his fascist crowd," Mr. Simmons told The Wall Street Journal.
There’s also a wine cellar, a library, a pool and a tennis court.
Mr. Simmons also stored an extensive collection of KISS memorabilia at the home, which was not part of the sale. The band, instantly recognizable because of their white-and-black makeup, is known for hits like "Rock and Roll All Nite" and "I Was Made for Lovin’ You."
Representatives for Mr. Simmons did not immediately respond to requests for comment for this article.
Tune into FOX Business each Tuesday at 8 p.m. for "American Dream Home" hosted by Cheryl Casone and "Mansion Global" hosted by Kacie McDonnell.