Bel-Air real estate is expensive. That’s common knowledge, but it might be somewhat eye-opening to learn the going rate for one of the most exclusive properties in the Los Angeles neighborhood. Forbes reports that a Bel-Air estate has been listed with an asking price of $400 million. If the asking price is met, it would trounce the previous national price records for a private home sale.
The property covers eight acres, has panoramic views of the Pacific Ocean and overlooks the Bel-Air Country Club. It is nestled on top of the hill to provide those views, but it is remarkably flat, which is obviously part of the allure. The owners have ties to Qatari royalty. They have reportedly been living at the property since 2018.
Unbelievably, the estate was reportedly purchased for ‘just’ $35 million in 2010. Even at that price, most of us would need to buy lottery tickets to even start contemplating dreaming of such a purchase, yet it is apparently not a question of house price inflation. According to reports from the realtors facilitating the sale, the owners spent around $350 million on the property, including buying up nearby parcels of land to complete the estate.
The estate is listed with the address 11201 Chalon Road. In the literature from The Beverly Hills Estates, it has been given the title “The Crown Jewel of Los Angeles”. You can see the listing here. Further information is provided, including the fact that the estate was designed by architect Peter Marino. It, as you might expect, does not contain a single house, but several residences. The central property, however, has 10 family bedrooms and 13 staff bedrooms. There is a guest house that is a mansion in itself, featuring six guest bedrooms and ten bedrooms for staff.
While the $400 million price tag is eye-catching, history does tell us that these mega values can be a little optimistic. The owners were said to have “no budget” when sculpting the original estate into this dream home, but plenty of listings that have had nine-figure dollar valuations in recent years have had to come down in price. Still, if a sale is agreed, we could be looking at the most expensive private home sale in US history. Clearly a sign that the ultra-luxury real estate market remains in rude health.
