LA investor pays $56M for Bel Air manse

Le Belvedere, once owned by developer Mohamed Hadid, was once listed for $85M

Los Angeles /
May.May 11, 2018 06:00 PM
630 Nimes Road in Bel Air

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


Related Articles

arrow_forward_ios
The Bel Air house (Coldwell Banker Realty)
Bel Air home owned by bin Laden’s half-brother lists for $28M
Bel Air home owned by bin Laden’s half-brother lists for $28M
Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Mohamed Hadid and 901 Strada Vecchia Road (Getty, Redfin)
Buyer walks away from Hadid’s spaceship spec mansion
Buyer walks away from Hadid’s spaceship spec mansion
Mohamed Hadid and Franklin Canyon Park (Getty, Mountains Recreation and Conservation Authority)
For Mohamed Hadid’s latest offering, 70 acres of undeveloped land
For Mohamed Hadid’s latest offering, 70 acres of undeveloped land
Rick Hilton and the Bel Air estate at 1060 Brooklawn Drive. (Getty, Hilton & Hyland)
Hilton family checks out of Bel Air estate, pockets $62M
Hilton family checks out of Bel Air estate, pockets $62M
Mohamed Hadid and 901 Strada Vecchia Road (Getty, Redfin)
Mohamed Hadid’s Bel Air boondoggle finds buyer
Mohamed Hadid’s Bel Air boondoggle finds buyer
Anthony Davis and Stratford Circle mansion, Los Angeles (Getty, Google Maps)
Anthony Davis buys Bel Air mansion with b-ball court
Anthony Davis buys Bel Air mansion with b-ball court
Nile Niami and his Bel Air spec home (Getty Images, Juwan Li and Marc Angeles/Compass)
Nile Niami sells another Bel Air spec mansion for $36M
Nile Niami sells another Bel Air spec mansion for $36M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...