The most expensive LA home sale of the year just closed

Deal includes a spec mansion that went for $45M and the neighboring home, which closed at $7.2 million.

May.May 20, 2019 05:00 PM
From left: 201 Bentley and 281 Bentley
From left: 201 Bentley and 281 Bentley

UPDATED May 21, 11:28 a.m. A buyer from Saudi Arabia has purchased two neighboring homes in Bel Air to put together a massive $52.2-million estate.

The deal includes a mega-mansion on Bentley Circle that sold for $45 million — the most expensive sale so far this year in Los Angeles, The Wall Street Journal reported. The deal also includes a home next door designed by legendary architect Richard Neutra for $7.2 million.

The seller is Rafael Zakaria, an L.A.-based diamond manufacturer who purchased the land for $6.6 million in 2013.

The spec mansion was listed for $48 million when it hit the market three months ago. Zakaria spent four years building the estate over 20,000 square feet, with seven bedrooms, 10 bathrooms, 20-person movie theatre, gym, spa and 16-car garage. The property also includes a 200-foot circular infinity pool and tennis court.

The deal is a jolt to the spec home industry as reports of price cuts and plummeting sales have dominated the year so far.

The Neutra-designed home, known as the Hammerman Residence, will house the buyer’s staff, according to Florence Mattar of Coldwell Banker Global Luxury, who represented the new owner. The house was built in 1954 and includes four bedrooms, five bathrooms and 4,300 square feet of space. It was listed for $10.5 million after a $3-million price cut in January 2018. The listing for the home was handled by Aaron Kirman of Compass, who shared the listing for the larger home with Rayni Williams and Branden Williams of Hilton & Hyland. [WSJ]Gregory Cornfield

This post has been amended to note the brokers handling the listings for each property. 

Related Articles

A federal court judge in LA tossed out Zillow lawsuit filed by developer Bruce Makowsky (Credit: iStock)

LA judge tosses out Bruce Makowsky lawsuit against Zillow

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