Real Estate Industry News

The price keeps plummeting for David Madden’s Bel-Air abode. The former AMC exec, who stepped down as the network’s programming chief over the summer, has relisted his stylish contemporary home for $6.5 million.

That’s the ninth price cut since the property hit the market two years ago for $9.95 million, according to the Multiple Listing Service.

Spanning three stories, the hillside home fits five bedrooms and seven bathrooms into roughly 5,700 square feet of interior. On the main level are a scenic living room and indoor-outdoor dining room that expands to a terrace. Upstairs, the chandelier-topped master suite features a fireplace and spa tub.

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Down below, there’s a lounge level made for entertaining that holds a family room, a wet bar and a glass-encased wine cellar.

Through pocketing doors, it opens to a covered patio with a fire pit. Dual staircases descend to the rest of the quarter-acre grounds, where a fountain-fed swimming pool adjoins a small lawn.

Drew and Susan Gitlin of Berkshire Hathaway HomeServices California Properties hold the listing.

Madden joined AMC Networks as programming president in 2017. Before that, he oversaw entertainment for the Fox Broadcasting Co. at 20th Century Fox.