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        <title><![CDATA[Ari Emanuel takes a $5 million hit on LA mansion]]></title>
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        <lastBuildDate>Tue, 26 May 2020 15:49:04 +0000</lastBuildDate>
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            <media:title type="html">Ari Emanuel takes a $5 million hit on LA mansion</media:title>
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        <content:encoded><![CDATA[<p>Even super agent <strong>Ari Emanuel </strong>loses sometimes.</p><p>Emanuel, who runs Endeavor, the parent company of <strong>Hollywood talent agency WME</strong> and half of <strong>Ultimate Fighting Championship</strong>, reportedly took a $5 million hit on the sale of his LA mansion.</p><p>The 4,330-square-foot property — located in LA&#8217;s tony Brentwood neighborhood where A-listers like Gwyneth Paltrow and Trent Reznor reside — sold for $6.5 million, according to Variety, citing property records.</p><p>The unidentified buyer, shielded behind a blind trust, made an off-market, all-cash deal, for the home in mid-May. Unfortunately for Emanuel, that deal is $5 million less than the $11.5 million he paid under two years ago, in July 2018.</p><p>A rep for Emanuel did not comment.</p><p>The property, located near the mouth of the bucolic Mandeville Canyon area, includes a 5-bedroom, 6 bathroom house built in 1976 that sits on a half-acre estate replete with a pill-shaped swimming pool, and landscaped lawns.</p><p>Initially, Emanuel purchased the property because it sat next to his main residence, a sprawling 5,700-square-foot modern home, that he planned to combine into a large estate. But he never completed the project, and he sold the larger house last year for $19.4 million to hedge fund tycoon David G. Brown.</p><p>The sale of the smaller house comes as Emanuel&#8217;s Endeavor, which represents the likes of Oprah Winfrey, Mark Wahlberg and Charlize Theron, has been crushed by the impact of the pandemic.</p><p>In recent weeks, Endeavor furloughed or slashed the pay of 2,500 employees, while <strong>cutting 300 jobs</strong> at WME. Emanuel sacrificed his own salary for the rest of the year, as the company looks to <strong>raise $250 million by June</strong>, according to an exclusive report by The Post exclusively. Endeavor&#8217;s scramble for cash comes less than a year after the firm<strong> yanked its initial public offering</strong> last fall due to <strong>slumping demand</strong>.</p>]]></content:encoded>
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