04/05/2011 12:19 pm ET Updated Jun 05, 2011

Paul Williams-Designed Holmby Hills Mansion For $23.95 Million

Located in the posh neighborhood of Holmby Hills, this seven bedroom, eleven bathroom mansion's price tag has been reduced from $26.5 million to $23.95 million after just two months on the market. The home was designed in 1936 by the renowned Paul Williams, the first African-American architect ever to be recognized by the American Institute of Architects (AIA). Williams designed other sought-after homes in LA as well, such as a mid-century mansion recently listed in Beverly Hills and producer Michael LaFetra's multi-million dollar Bel Air pad. Since being built, the home has since been renovated by world-renowned interior designer Craig Wright, who is considered by Forbes Magazine to be one of the "Best Interior Designers of the West Coast."

The home sits on over an acre of land that features a championship tennis court, pool, and detached, two story cabana and kitchenette. The 11,329 square foot mansion, which has been featured in Architectural Digest, includes a library, music and family room, formal dining room, wine cellar, and four family suites in addition to the master suite.

Photos by Paul Barnaby courtesy of the official listing with Myra Nourmand