New Bel Air spec mansion spanning 25K sf listed for $88M

Ardie Tavangarian also built home Peter Morton sold for $110M

Los Angeles /
Nov.November 14, 2018 05:00 PM
Builder Ardie Tavangarian listed a new mega-mansion for $88 million. (Credit: Hilton & Hyland)

The siege of spec mansions listing for more than $50 million in Bel Air shows no sign of abating.

The latest edifice of extravagance belongs to prolific builder Ardie Tavangarian, who listed a new mega-mansion for $88 million, the Wall Street Journal reported. The eight-bedroom house has about 25,000 square feet of space, with an additional 20,000 square feet of outdoor decks, patios and gardens.

The home includes a movie theatre, art studio, a game room, a state-of-the-art car elevator, and a spa with a sauna, steam room and massage room. A two-story covered deck at the back was designed to look like a picture frame to view the skyline, with the bottom of the frame including a 40-foot fire pit. The property also includes a guest house beneath an outdoor swimming pool.

Builder Ardie Tavangarian listed a new mega-mansion for $88 million. (Credit: Hilton & Hyland)

Tavangarian is founder of Los Angeles-based Arya Group, which has built some of the most expensive properties in the city. He told the Journal that he first wanted to build the home for himself after buying the site for $11.1 million in 2014. But he built it too large for his family, and decided to sell.

Branden Williams, Jeff Hyland and Judy Feder of Hilton & Hyland have the listing.

Sellers of spec mansions in Southern California have a habit of over-pricing by as much as 50 percent, only to slash prices later, some brokerage managers say.

Builder Ardie Tavangarian listed a new mega-mansion for $88 million. (Credit: Hilton & Hyland)

Tavangarian’s projects include a Richard Meier-designed home in Malibu that sold for a record $110 million earlier this year. The seller was Hard Rock Cafe co-founder Peter Morton.

Bel Air is among the priciest neighborhoods in the country in terms of land value. [WSJ] – Gregory Cornfield

Correction: Due to an error in the source article, this report incorrectly stated that Peter Morton bought the $110 million house in Malibu. He actually sold it.


Related Articles

arrow_forward_ios
Mohamed Hadid and Strada Vecchia (Getty, Hilton & Hyland)
Judge approves price cut on Hadid’s “stale” spec mansion
Judge approves price cut on Hadid’s “stale” spec mansion
Nile Niami and "The One" (Getty, The Society Group)
Nile Niami’s Bel Air behemoth enters receivership
Nile Niami’s Bel Air behemoth enters receivership
Elizabeth Taylor and Nimes Road (Getty, Google Maps)
Spec developer Ardie Tavangarian buys Elizabeth Taylor’s Bel Air residence
Spec developer Ardie Tavangarian buys Elizabeth Taylor’s Bel Air residence
The Weeknd and the 33,000-square-foot Bel Air mansion (Getty, Google Maps)
The Weeknd’s $70M Bel Air buy vies for priciest of year
The Weeknd’s $70M Bel Air buy vies for priciest of year
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
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
arrow_forward_ios

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

Loading...