Chinese media company founder lists Beverly Hills mansion for $32M

James Wang, founder of one of China’s largest entertainment firms, has listed his Beverly Hills mansion.

The so-called ‘Upside Down’ house is on the market for $32 million, the Wall Street Journal reported.

The property designed by Los Angeles architect Noah Walker features entertainment space on the top floor, with two-thirds of the house below-grade, built into a hillside. The home includes 8,000 square feet of space with four bedrooms, the Journal reported.

The 3.5-acre property on Oak Pass Road also includes a 2,400 square-foot guesthouse with two bedrooms, and a 75-foot infinity pool. It’s built around more than 100 protected oak trees that frame the house.

It belongs to a holding company that’s run by Wang, who is selling because he is building a new home in the Bel Air area, according to the report.

The listing agents are Tomer Fridman, Adam Rosenfeld and Michael Chen of Compass

Wang and his brother, billionaire Dennis Wang, founded Huayi Brothers Media.

The neighborhood is familiar with big-ticket listings. Two years ago, the property at 9694 Oak Pass Road was listed for $22 million, and shortly after, Jessica Alba purchased a 1.85-acre property on Oak Pass Road for $10 million.

But more recently, the luxury real estate market has started to cool down with big price cuts and fewer high-end closings. [WSJ] — Gregory Cornfield