Chris Pratt and Katherine Schwarzenegger are once again trying to sell their enormous Pacific Palisades mansion. The couple has returned the custom-built Los Angeles estate to the market for $19.99 million, marking the fifth time in three years that they’ve tried to find a buyer. That’s a long way from July 2023, when they first listed the property for $32 million.
Pratt bought the Pacific Palisades property in 2018 for $15.6 million. Rather than simply renovate the existing home, he and Katherine demolished it and embarked on a roughly three-year ground-up construction project. The result is a nearly 13,000-square-foot mansion with six bedrooms, 7.5 bathrooms, a movie theater, huge entertaining spaces, expansive balconies, custom finishes, and sweeping Los Angeles views.
The current listing boasts that “no expense” was spared during construction, which brings us to the potentially painful financial part of this story. Pratt didn’t simply spend $15.6 million on a house that he’s now hoping to sell for $19.99 million. He spent $15.6 million on the property, tore the original house down, and then paid to build a 13,000-square-foot luxury mansion from scratch. The couple’s exact construction costs aren’t public, but their total investment is obviously much higher than the original purchase price.
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A $32 Million Dream
Pratt and Schwarzenegger first listed the finished mansion for $32 million in July 2023. In October, they cut the price to $29.99 million, only to pull the property from the market a few days later. The house then resurfaced in November at the original $32 million asking price and disappeared again just two days later.
They gave it another shot in June 2024, this time at $24.5 million. That listing remained active until October, when the property was taken off the market for a third time. At the time, Schwarzenegger was pregnant with the couple’s third child, and the family apparently decided to postpone the move until after the baby arrived.
The mansion returned for a fourth attempt in August 2025 with an asking price of $19.99 million. That listing lasted until March 2026. Now, in August 2026, the property is back for attempt number five, once again priced at $19.99 million.
In other words, the asking price has fallen by a little more than $12 million from where this adventure began three years ago.
Why Do They Want To Sell?
This does not appear to be a case of Pratt and Schwarzenegger needing to downsize. In fact, while they’ve been trying to unload the Palisades mansion, they’ve already started building another custom mansion across town.
In 2023, the couple paid $12.5 million for a property in Brentwood, located close to the home of Katherine’s mother, Maria Shriver. Once again, Pratt and Schwarzenegger demolished the existing residence and started over.
That particular demolition attracted some controversy because the previous structure was the Zimmerman House, a 1950s midcentury modern home designed by acclaimed architect Craig Ellwood. Preservationists and architecture enthusiasts criticized the decision to tear it down, but construction on the couple’s new Brentwood residence proceeded.
While they wait for the Brentwood home to be completed, Pratt and Schwarzenegger have been spending time in Montecito, where they have been living in a mansion owned by Katy Perry and Orlando Bloom. Photos posted by the couple during the summer of 2026 showed them still living in the Montecito property.
So the Pacific Palisades house appears to have become an extremely expensive mansion that simply no longer fits into the family’s plans.
Will $19.99 Million Finally Get It Done?
At $19.99 million, the mansion is dramatically cheaper than it was when Pratt and Schwarzenegger first tested the market. But the previous four attempts demonstrate an uncomfortable truth about ultra-luxury real estate: A custom home can cost an enormous amount of money to create without necessarily being worth that amount to someone else.
For Pratt, whose blockbuster credits include “Guardians of the Galaxy,” “Jurassic World,” and “The Super Mario Bros. Movie,” the situation is unlikely to represent a financial crisis. We estimate Chris Pratt’s net worth at $100 million. But after paying $15.6 million for the original property, demolishing the existing house, and building a nearly 13,000-square-foot mansion from the ground up, even a sale near the current $19.99 million asking price could make this a surprisingly lousy real estate investment.
Of course, before we can calculate exactly how this adventure turned out, Pratt and Schwarzenegger still need someone to actually buy the house.
