JPMorgan financing $115M mansions in L.A.: VIDEO

Three Bel Air estates are now available to the super-rich on an exclusive hillside

TRD New York /
Oct.October 04, 2015 12:00 PM

More than half a decade since the crash, banks are once again financing massive single-family homes and mega-mansions. A West Coast development team that includes the real estate investment arm of JPMorgan Chase is offering the super-rich the chance to build homes on an exclusive Los Angeles hillside starting at $115 million.

Junius Real Estate Partners, part of JPMorgan’s private bank, and developer Domvs London are planning to offer three estates on an 11-acre site near the Hotel Bel-Air, according to Bloomberg News. The first parcel will hit the market this week.

“There’s a shortage of trophy properties that are available for sale in this pocket of Los Angeles,” Barry Watts, president of Domvs London told Bloomberg. “You’ve got high-net-worth people who want to own multiple homes across the world, and Los Angeles offers something different. If you want to drive your convertible car 12 months a year, it’s a city where you can do that.”

Buyers at the site, dubbed the Park Bel Air, have the option of just buying the land — with all permits in place — for $45 million. Or, they can select a design from Domvs , which will construct a house ranging from 56,000 to 61,000 square feet. That will start at $115 million, according to Bloomberg.

[Bloomberg]Christopher Cameron

Related Articles

The Daily Digest - Tuesday

WeWork bonds hit low, new LLC legislation went farther than intended: Daily digest

Clockwise from top left: The Watchtower building at 25 Columbia Heights, Long Island University at 1 University Plaza, The Rheingold at 10 Montieth Street and 871 Bushwick Avenue in Brooklyn (Credit: Wikipedia and Google Maps)

These were the top 10 outer borough loans last month

Banks see uptick in mortgages, but remain wary ahead of potential Fed interest rate cut

Clockwise from top left: 54 Crown Street, 451 10th Avenue, 46-09 69th Street and 270 Park Avenue (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

Mack Real Estate Group's Richard Mack and JPMorgan's Jamie Dimon with a rendering of 123 Melrose Street (Credit: Getty Images and ODA Architecture)

Yoel Goldman sews up long-term funds for Rheingold Brewery Project

Manhattan hotel at center of 1MDB fraud case lands $615M refinancing

45 Main Street in Brooklyn and Two Trees principal Jed Walentas

Two Trees lands $85M refi for Dumbo’s
45 Main Street

 270 Park Avenue and JPMorgan Chase CEO Jamie Dimon (Credit: Google Maps and Wikipedia)

City Council gives green light for JMorgan’s new headquarters in Midtown East