Deadline Looms for Sale of Discounted LA Mega-Mansion.
Hedge funder Jeffrey Feinberg is rushing to sell his sprawling LA mansion before a new mansion tax is imposed on the city's lavish real estate market on April 1. Facing a $2 million loss, Feinberg is willing to accept a $6 million cut on his extravagant seven-bed, eleven-bathroom property, far less than the $44 million he paid just two years ago. The new tax will see the city take a 4% cut of all home sales between $5 million and $10 million, and a 5.5% slice for properties that sell for more than $10 million.