LA investor pays $56M for Bel Air manse
Le Belvedere, once owned by developer Mohamed Hadid, was once listed for $85M
A Los Angeles-based investor just paid $56 million for a sprawling 10-bedroom mansion in Bel Air that was once owned by developer Mohamed Hadid.
Dubbed Le Belvedere, the French chateau-inspired property was most recently listed for $72 million, but originally came on the market in December of 2016 for $85 million.
Max Fowles-Pazdro purchased the 35,000-square-foot home, which sits on 2.2 acres, through a limited liability corporation he controls, the Wall Street Journal reported.
The mansion, which Hadid sold for $50 million in 2010, features a Turkish hammam, a Moroccan-themed room for entertaining, a screening room decorated with murals and a ballroom that seats more than 200. The grounds include a 70-foot infinity pool, a pond with swans, and features city and ocean views.
Despite selling the home, Hadid, the father of models Bella and Gigi Hadid, continued to live there as a tenant. He tried to buy the home, but lacking enough of his own funds, he “could not find anyone to back him,” Jeff Hyland, president of Hilton & Hyland, told The Real Deal.
Fowles-Pazdro was represented by four agents: Jonathan Nash and Stephen Resnick of Hilton & Hyland, and James Harris and David Parnes of the Agency. Joyce Rey of Coldwell Banker Global Luxury and Stacy Gottula of the Agency represented the seller, which is State Management and Development, according to public records reviewed by the Journal.
The mega-sale comes on the heels of the recent Los Angeles record-setting sale by Peter Morton, a founder of Hard Rock Cafe, of his Carbon Beach property in Malibu, Calif. for about $110 million. [WSJ] — Alexei Barrionuevo