The Bel Air estate of billionaire mall developer Melvin Simon has been sold for $34.9 million.
The acre-and-a-half property, next door to the Bel Air Country Club, is anchored by a 20,000-square-foot Italian-style mansion. It has nine bedrooms, the grandest of which measures 2,000 square feet alone.
The gigantic home features an underground 10-car garage, an outdoor swimming pool, a library, a gym and spa with its own salon, and multiple formal gardens.
The mammoth property was listed for $37.5 million by the mall magnate’s widow Bren Simon, the Wall Street Journal reported. But its original price tag was way higher: $50 million in 2010, after Simon died at 82. The undisclosed buyer, represented by Sotheby’s Joy Denton, is a local businessman. Coldwell Banker’s Jerry Jolton was the listing agent.
The Simons bought the manor in 2006 for $27.5 million. They bought the lot next door for $9 million the following year. They own numerous homes across the country, though in recent years, Bren Simon was been divesting, and has sold three adjoining properties in Hidden Valley. [WSJ] — Cathaleen Chen