The recent trend of sky-high listing prices for Los Angeles luxury spec homes continues unabated.
The latest one to hit the market is a spec home in Bel Air, now nearly completed, which hits the market at $88 million, the Wall Street Journal reported.
It is being built by L.A.-based development firm Elite Investment Management. Construction has gone on for three years.
The top level of what will be a 19,000-square-foot, three-story house includes the master suite and bedrooms, according to architect Michael Palumbo. The middle level will have a 1,700-gallon fish tank and a wine and cigar lounge, while the lower level will include an 18-seat movie theater and wellness center. The outdoor area will feature an infinity pool that merges into a waterfall and a tennis court. The property will also have three kitchens — two of which are designed for catering — and two bars.
It joins the growing list of Bel Air spec homes that are among the most expensive properties in the county. Those include a 34,000-square-foot mansion that will sell for $180 million, which is being listed by a celebrity plastic surgeon-turned home developer. That is next to Bruce Makowsky’s $188 million spec estate.
The latest one is on the same block as the $500 million spec mansion known as “The One,” developed by Nile Niami. [WSJ] — Gregory Cornfield