An iconic midcentury-modern home, known for its rich Hollywood history, has been listed on the market for $8.99 million, marking a significant decrease from its original asking price of $21.5 million in 2021.

Perched atop a mountaintop above the picturesque San Fernando Valley, this remarkable residence holds a storied past as the former abode of renowned singer Frank Sinatra. Thanks to the generosity of its first owner, Dora Hutchinson, Chase Bank heiress and New York socialite, Sinatra and his Rat Pack pals enjoyed the privilege of calling this house their home for eight years, completely rent-free. The property also served as a temporary haven for the legendary actress Lucille Ball when she separated from her husband, Desi Arnaz.

Since then, over 500 film and TV production companies have flocked to this landmark property, utilizing its stunning backdrop for various hits such as "Mad Men," "Californication," "Dreamgirls," "Transformers," and "Bewitched." The appeal of the residence is undeniable, as luxury brand Hermès once transformed it by dressing it entirely in red for a lavish party. Additionally, musicians Miley Cyrus and Usher also chose the iconic setting to film their respective music videos.

Designed by renowned architect William Pereira, who had also created notable structures like the CBS TV studios in LA, the Kennedy Center in Washington, the Transamerica Pyramid in San Francisco, Los Angeles International Airport, and the LA County Museum of Art, this home is truly one-of-a-kind. Notably, a young Frank Gehry worked as Pereira's apprentice during its construction.

Michael Bolla, an international property consultant with Sotheby's Dubai, shared insights into the property's allure, describing it as a "magical home." Bolla revealed that Pereira meticulously tracked the sun's movements on the land by parking a trailer onsite, ensuring that the residence was harmoniously designed with its natural surroundings. The expansive dwelling boasts multiple spacious parlors, one featuring original zebra cork flooring, a formal dining room, a chef's kitchen with a cozy eating area, numerous fireplaces, and a grand main bedroom suite. Originally built as a "party house," it has long been a magnet for celebrities throughout the decades, hosting legendary Rat Pack gatherings and more recent celebrity poker games, including notable guests like Paul McCartney serenading on the piano.

As the sellers aim to restructure their global real estate portfolio, they have enlisted the expertise of Michael Bolla to oversee the sale of this remarkable property. The opportunity to own a piece of Hollywood history combined with the architectural marvels of two masterminds, William Pereira and Frank Gehry, make this residence an enchanting prospect for prospective buyers.

With its famed past and undeniable charm, this Hollywood estate promises to captivate those seeking a unique connection to the Golden Age of cinema. Interested parties are encouraged to explore the opportunity to own a piece of history as this iconic home seeks its new caretaker.