Dorit Kemsley and Husband PK Attempt to Sell House on Million Dollar Listing After $4M Price Cut
Paul 'PK' Kemsley is currently at risk for having his wages, money and property seized without further warning unless he pays back over $1.2 million in unpaid loans.
During the episode, realtors James Harris and David Parnes take a second stab at selling the six-bedroom, seven-bathroom abode located near the Beverly Hills Hotel after it had failed to attract a buyer for months.
“It was way overpriced and as a result, it’s been sitting on the market for almost six months with nothing—no interest,” Parnes says.
With his new realtors, PK, an English businessman who also manages Boy George’s career, agreed to significantly drop the asking price to $8.995 million with the hope of not dipping below $8.5 million on a final offer.
However, after the agents throw a brokers’ open house and Parnes gets his first offer of $7.45 million with a counter offer at $7.7 million, things go south for the sale thanks to PK.
“We will sell this house at $8.5 million,” PK says. “That’s the price. Take it or leave it. I know what you’re doing. You’re trying to work me down and you’re wasting your time,” he adds. “I want you to get me the price that you said you’d get me.”
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He then decides to take matters into his own hands and calls the potential buyers’ broker to negotiate the deal himself, claiming that he’s saving them two weeks of time going back and forth attempting to counter when he could tell them his take-it-or-leave-it offer up front. When the buyers pull out, PK seems disappointed, as does Parnes, who thinks PK was responsible for killing the deal.
“I’m not desperate to sell,” PK says during the episode.
The 8,679-square-foot house is perched at the top of a private drive, according to a previous real estate listing. It features six bedrooms and seven bathrooms, as well as a home theater, a spacious master suite with its own patio and a walk-in closet. The formal dining room features two crystal-laden chandeliers and the living room holds a piano Dorit has said was gifted to her husband by Billy Joel.
On Friday, The Blast reported that PK is at risk of having his wages, money and property seized without further warning unless he pays back over $1.2 million in unpaid loans. According to the lawsuit filed by man named Nicos Kirzis, the problem goes back to 2011, when Kirzis loaned PK the sum.
PK had allegedly agreed to pay back the money by 2013, but never did, and instead filed for bankruptcy a year prior, Kirzis claims in the suit. PK argued that filing made him no longer responsible for Kirzis’ debt, but Kirzis notes he was never listed as a creditor in PK’s bankruptcy case.
In 2016, a judge ordered PK to pay up, the papers state, and PK made a small payment on the debt, Kirzis claims. Currently, he allegedly still owes $1,275,221.48.
PK’s rep had no comment. However, he joked about the proceedings on Instagram by posting a meme showing two loaves of bread with the words, “FOR SALE” and “PAIR OF LOAFERS.”
“Reports of my family’s downfall have been greatly exaggerated …. please see an image of the shoes I’ve just got Dorit,” he wrote.
PK is also at the center of another legal battle. The Bellagio Hotel and Casino in Las Vegas is suing him for unpaid casino markers. PK argued that the bankruptcy filing had wiped the $3.6 million owed. He agreed to make payments until June 2018, but stopped paying — still owing over $2 million.
During the MDLLA episode, which was likely filmed in 2018, PK and Dorit make no mention of their financial situation, and Dorit says they are selling the home because her family has “essentially outgrown” it.
“The reality is for us and the way we live, the backyard is not big enough for us and for the kids,” PK says.
Two weeks after PK’s conversation with Parnes, the RHOBH‘ star and her husband’s home was robbed, allegedly by a suspect who targeted celebrities’ homes during open houses. Usher, Adam Lambert and Jason DeRulo were also victims.
During the episode, Bravo acknowledges the robbery, and announces that PK and Dorit pulled their home “off the market until further notice.”
On Monday, the home was re-listed with another $1 million price drop to $7.995 million, according to Realtor.com. The new listing agent is Myra Nourmand of Nourmand & Associates-Beverly Hills.