The home purchased by the late actor Matthew Perry just months before his death has seen its asking price reduced by nearly $500,000 as it remains on the market almost a year after the “Friends” star’s passing.

Originally listed in May of this year for $5,195,000, the property’s price has now been cut to $4,700,000, according to Realtor.com, which cited real estate listings. The reduction comes after the home spent four months on the market without attracting a buyer.

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Perry, known for his role as Chandler Bing on the sitcom Friends, purchased the home in May of last year in an off-market deal for $4,995,000. The actor died unexpectedly later in October at his separate Pacific Palisades residence, never having resided in the Hollywood Hills home.

The midcentury modern house, built in 1957, offers 2,793 square feet of living space. It features three bedrooms – one converted into a screening room – and three and a half bathrooms. Realtor.com noted that the property has classic architectural elements typical of its era, including walls of glass and a double-sided fireplace.

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The selling agent listed the home as a “sleek midcentury treasure.” The outdoor space includes a swimming pool and a fire pit. According to the listing, the home has “thoughtful updates” that provide “an ambience of elevated luxury while embracing the original architectural aesthetic.”

Despite its location near the Sunset Strip and Beverly Hills, the property’s connection to Perry and the circumstances of his death may be influencing potential buyers. Perry’s body was found in the Jacuzzi of his Pacific Palisades home, with the official autopsy report citing “acute effects of ketamine” and drowning as the cause of death.

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Last month, in connection with the fatal overdose of the actor, Perry’s assistant and four others, including two doctors, were indicted and accused of supplying the ketamine that ultimately led to his death.

According to the report, the Hollywood Hills property was Perry’s last real estate purchase. He had been active in the Los Angeles market in the years before his death. In 2020, he purchased his Pacific Palisades home for $6 million. Before that, he sold a beachfront home in Malibu for $13.1 million and a penthouse in Los Angeles for $21.6 million in 2021.

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Perry’s final property is currently being listed amid a broader cooling in the high-end Los Angeles real estate market. A Realtor issued a report in April indicating a slowdown in luxury home sales across Southern California, with properties remaining on the market for longer periods and price reductions becoming more common.

As the Hollywood Hills home awaits its next owner, the property’s eventual sale price may provide insights into the current state of the luxury housing market.

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