Scarface mansion finally sells... At third of the price

"In this country," Tony Montana famously said in Scarface, "first you get the money, then you get the power, then you get the women." In the real estate world, though, Scarface's other star - his on-screen mansion - has had no such success.

The property, located in Montecito, California, wowed audiences almost as much as Al Pacino's performance in the 1983 gangster flick, providing the backdrop for the drug lord's Miami palace, where he faced down a horde of gun-toting enemies.

The estate was certainly extravagant enough to be believable. The main home boasts four bedrooms and spans a grand 10,000 square feet, with its Bertram Goodhue design blending Roman and Middle Eastern influences, including one Byzantine-style room with 18-foot ceilings. Outside is equally splendid, with Persian-style gardens and impressive patios and swimming pools providing the setting for the wedding scene in Brian De Palma's movie.

But the property, listed by Riskin Partners and Emily Kellenberger of Village Properties Realtors, saw a less spectacular fall from grandeur than its fictional inhabitant. The property was listed in May 2014 for $35 million, but struggled to find a buyer. The price was eventually halved to $17.9 million, but still had no luck. Now, almost 18 months after it first went on sale, the home has sold for just $12.26 million - a sum that Scarface himself wouldn't blink an eye at. (Even the real life Scarface, Al Capone, saw more success with his actual Miami beach home, which was bought for $5.9 million before being sold for $7.4 million in 2013.)

59-year-old businessman Mr. Gupta, who bought the Montecito mansion, is not even a Scarface fan and already owns a property in the area. "I think we got it at a fair value," he told the Wall Street Journal.

The seller? Russian financier Serger Grishin, who spent $20 million for the pad in 2008. He reportedly declined to comment.

In this country's property market, first you get the home, then you get the 65 per cent discount. Then you get the sale.

Photo: THOMAS PLOCH