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The Real Deal Los Angeles

Owner’s rep says $200M listing linked to Trump bankruptcy guru is “fraudulent”

Listing would have been the most expensive on the market in LA
By Katherine Clarke | January 03, 2017 08:30AM

Stephen Bollenbach and the picture from the spec house listing (credit: Zillow)

UPDATED Jan. 3, 2.42 p.m.: A listing for a nearly $200 million Bel Air spec home that appeared on Zillow.com on Monday was “fraudulent,” according to a representative for the owner.

The representative, Samuel Barak, said he had contacted Zillow and asked for the posting to be removed. It was not clear who was responsible for the listing post, which included a faux rendering and a description. He noted that the picture was actually of an unrelated spec home under construction in Scottsdale, Arizona once owned by tech entrepreneur Jason Hope.

An LLC linked to the Bollenbach family, headed by Stephen Bollenbach, the former CEO of Hilton Hotels Corporation and onetime CFO of the Trump Organization, has owned the Bel Air site since the late 2000s, records show. But Barak said there were no plans to build a spec home on the property.

The listing would have been the most expensive on the market in L.A. County.

Bollenbach, who made his name by helping Trump avoid filing for personal bankruptcy in the 1990s, died after a long illness last October aged 74. His son, Keat Bollenbach, is listed as a signatory on the deed for the property.

The property is not far from the longtime Bel Air home of former president Ronald Reagan and his wife, Nancy. It sold for $15 million last year in an off-market deal to billionaire Jerry Perenchio, the former chairman of Univision.