Bel Air spec home could be the next reality TV star

Development process to be featured on “Million Dollar Listing”

Jan.January 17, 2019 03:18 PM
Josh Altman from Bravo TV’s “Million Dollar Listing Los Angeles,” and the Bel Air area (Credit: Google Maps)

UPDATED, Jan. 20, 9:04 p.m.: Construction is scheduled to begin next month on a hilltop redevelopment in Bel Air that could become Los Angeles’ next reality TV star.

Mark Atalla and Andrew Abas of Carlyle Capital, who bought the property in November for $7.3 million with developer Ilan Sharone, plan to demolish the existing structure to make room for a 14,000-square-foot estate, Atalla said.

Bravo TV will feature the development on the next season of “Million Dollar Listing Los Angeles,” according to a release by Carlyle.

Josh Altman, a star of the show and an agent with Douglas Elliman, represented both Carlyle Capital and the seller.

A spokesperson for Altman and Douglas Elliman said there is no plan for the property to be featured on “Million Dollar Listing.”

Carlyle will redevelop the property on Bellagio Road with Sharone, according to Carlyle. They plan to complete the new home in 18 months and list it for $30 million.

The seller was a trust for the family of Alan Silverbach, who was considered a pioneer in international film distribution for 20th Century Fox. He died last year.

Carlyle, a private lender, funded a $7 million loan to buy the property through an entity called 123 Bellagio, property records show.

A vacant single-family structure built in 1941 currently stands on the 37,500-square-foot lot. It was redone in the 1980s, when a member of the band Fleetwood Mac bought the property for a family member. Silverbach later took over the property.

Atalla declined to comment on how the development will be featured on the show.

Bel Air is one of L.A.’s priciest neighborhoods, and is filled with expensive spec homes. Last month, Thai developer Duangpatra Bodiratnangkura started shopping his 18,850-square-foot mansion there for $56 million.

Josh and his brother Matt Altman – who recently announced they are relocating to a 3,320-square-foot space near Beverly Grove – are the top-producing team for Douglas Elliman in L.A.

Related Articles

Lauren Sanchez and Jeff Bezos with the property at 1441 Angelo Drive (Credit: Getty Images and Redfin)

A $90 million patch of dirt: A look at Jeff Bezos’ other record LA deal this week

Amazon CEO Jeff Bezos with the home (Credit: Pintrest and Getty Images)

Jeff Bezos buys David Geffen’s Beverly Hills estate for record $165M

Nile Niami and 1175 N Hillcrest Road (Credit: Redfin)

Niami gets $50M+ for Beverly Hills spec mansion

Jeff Bezos with  Casa Encantada and Palazzo di Amore estate (Credit: Getty Images and iStock)

Jeff Bezos is shopping for an Amazon-sized mansion in LA

Lori Loughlin and Mossimo Giannulli are reportedly trying to sell their Bel Air estate

Lori Loughlin, Mossimo Giannulli asking $29M for Bel Air estate

A judge will let Hearst estate be used as cash collateral (Credit: iStock)

Start your timer: Leonard Ross has 4 months to sell Hearst mansion

Sources say Gou is behind $33 million Bird Streets purchase (Credit: Hilton and Hyland and Wikipedia)

Bird Streets home flies off the market for $33M to reported Taiwanese buyer

William Randolph Hearst by his former home (Credit: Getty Images and Zillow)

Hearst estate owner pleads with court to let him sell mansion