Scooter Braun appears to be following the market down, like several other high net worth individuals looking to shed some high priced real estate in a market increasingly bogged down by high interest rates and inflation.

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One and a half years before he filed for divorce from Yael Cohen, the pop music mogul paid $18 million for the longtime Los Angeles estate of John Travolta and his late wife Kelly Preston. There was a bit of a shabby look to the Brentwood spread and it was obviously in need of an upgrade. 

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Known for managing top recording artists like Ariana Grande, Justin Bieber, and Demi Lovato, the 41-year-old entrepreneur probably planned to incorporate the estate into what was then his family home. By late 2021, just months after his divorce was finalized, he had already decided to put the old Travolta abode back on the market, with few if any noticeable improvements, but with a notably lucrative asking price of $24 million.

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According to Rich Report, the price was lowered to $19.95 million in the early weeks of 2022 due to the absence of takers at the lower price. Even though he may still make a buck or a million dollars, it won't be the windfall he had envisioned. It offers complete privacy, enhanced security (there's a guard shack just inside the gate!), lots of mature shade trees, and pretty views of the city and mountains. The property is listed with Kurt Rappaport at Westside Estate Agency and Dalton Gomez at Aaron Kirman Group.

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This still-distressed, down-on-its-heels hacienda-style home, which spans about 8,500 square feet over two floors with six bedrooms and nine and a half bathrooms, is billed as “one of the premier estate properties on the westside” and “filled with incredible potential”. Private wraparound balconies shielded by striped awnings offer sweeping views from one of the second-floor bedrooms.

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There are also several fireplaces, including one outside, formal living and dining rooms, a media room and library/study, a lighted tennis court that needs to be resurfaced, patchy lawns bordered by rigidly clipped hedges, and a courtyard dining area surrounded by bougainvilleas overlooking the classic kidney-shaped swimming pool. At the rear of the estate, there is also a sunken trampoline and a huge deck that hangs over the ravine.

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A big-dollar divorce was finalized between Braun and Cohen last fall. Among other divisions of art, autos and a PJ, Cohen retained their family home in Brentwood while Braun already spent $65 million buying a brand new contemporary home in L.A.'s Mandeville Canyon and another $36 million buying a lavish Montecito estate from Ellen DeGeneres.

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In recent years, Travolta has also made some major changes to his portfolio. Additionally, he sold a waterfront home in Clearwater, Fla., the headquarters of Scientology, and bought a home in Calabasas, a suburb of Los Angeles. The family's longtime Maine vacation getaway has been on and off the market for several years, most recently at $5 million, and he still owns the family's unconventional Florida fly-in estate.

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