Andy Wiederhorns West Hills Mansion To Be Auctioned Off

Dated: September 9 2015

Views: 596

The sprawling Portland mansion that once belonged to Andy Wiederhorn, the homegrown business executive who in 2000 was implicated in a financial scandal, will be auctioned off later this month.


Nicknamed "the Ivy," the 19,600-square-foot West Hills home at 4311 S.W. Greenleaf Drive includes 10 bedrooms, nine full bathrooms, nine fireplaces and an indoor basketball court that doubles as a ballroom, according to a listing on the real estate website Redfin. There is also a separate 2,000-square-foot pool house.


Wiederhorn unsuccessfully attempted to sell the Ivy in 2011 for $5.7 million, saying at the time that the price was only half of what he invested in the property and that it was the largest single-family home in Portland. He had stopped making payments on the house the year before.


The Ivy eventually became available at a foreclosure auction, but nobody offered the minimum bid of $3.36 million, and lender CitiMortgage seized the home. It went back on the market earlier this year for $3.5 million.


Now, the Ivy is listed at $2.75 million.


Wiederhorn, a financier, accumulated $100 million in wealth by the time he turned 31. But he spent 15 months in federal prison in the early 2000s after he pleaded guilty to charges of paying an illegal gratuity and filing a false tax return.


Wiederhorn now lives in Los Angeles and is the chief executive at the burger chain Fatburger.


The auction of the Ivy will be on-site and open to the public, on Sept. 23 at 5:45 p.m. Opening bids will begin at $250,000.


Source

Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

Why Fall Is A Great Time To Plant In Oregon Gardens

Come spring, excited gardeners drive to nurseries, load up their cars and go home to plant. That’s tradition. But fall planting also ranks high as a time to put plants in the ground.Nurseries may

Read More

Fannie Mae Cuts Origination Forecast For 2022

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022

Read More

How Long Does A Home Seller Have To Respond To An Offer

When you make an offer on a house, you might be wondering: How long does it take a home seller to respond to your offer?There’s nothing worse than sitting around waiting—especially when you’re

Read More

Forbearance Numbers Fall As Borrower Exits Remain High

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis

Read More