Hollywood producer Randall Emmett has once again slashed the price of his hillside Los Angeles home—and now we know why.

“The Irishman” producer and ex-fiancé of “Vanderpump Rules” star Lala Kent is desperate for a quick sale since, according to public record, Emmett is facing foreclosure proceedings on his 4,300-square-foot Bel-Air mansion. The property is currently listed for $4.75 million—down a staggering $1,545,000 from when the home originally hit the market in May 2022.

A complaint was initially filed by one of Emmett’s lenders, Cidel Financial Services LLC, claiming he defaulted on the mortgage in March. Then, in early May, another notice of default was served to Emmett by lender Oakhurst Income Fund I LP.

When he bought the house in 2017 for $3,925,000, Emmett took out a mortgage in the amount of $2,575,000. Information on additional loans against the house since then is scarce, but this is likely a multimillion-dollar debt.

Built on a 0.6-acre lot on a street with just four homes, the modern mansion boasts views of the canyon and a peek of the Pacific Ocean. A wall of windows opens to the backyard, which includes a pool and spa, a newly resurfaced pickleball court, a kitchen, and a lounge area with a fire pit.

The house on Mulholland Drive has been featured on TV a number of times. Shortly after closing on the four-bed, 4.5-bath home, Emmett and Kent enlisted the help of celebrity interior designer Jeff Lewis. The renovation was included on an episode of Lewis’ Bravo show, “Flipping Out.” Then, in 2019, Emmett made his debut on Season 8 of “Vanderpump Rules,” and he and Kent filmed on the property on several occasions.

News of Emmett’s real estate strife is coming at a time when he’s likely to face another wave of public scrutiny. A new Hulu documentary, “The Randall Scandal: Love, Loathing, and Vanderpump,” is set to drop on May 22 and scrutinizes the lawsuits, mounting debts, and allegations of workplace abuse against Emmett. The filmmaker’s bad behavior was first brought to light in June 2022 by a Los Angeles Times exposé, which characterized the former movie mogul’s business as “an empire that is crumbling.”

Randy White contributed to this report.

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