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.

Los Angeles /
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

arrow_forward_ios
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
Ardie Tavangarian sells Pacific Palisades spec mansion for record $83M
Ardie Tavangarian sells Pacific Palisades spec mansion for record $83M
Ardie Tavangarian sells Pacific Palisades spec mansion for record $83M
SeneGence founder Joni Rogers-Kante bought the home in 2017 (Coldwell Banker Realty, SeneGence)
Multilevel marketing CEO seeks $50M for Irvine mansion
Multilevel marketing CEO seeks $50M for Irvine mansion
The Beverly Hills spec mansion that Ekkehart Hassels-Weiler bought in 2019. The property is full of structural defects that Hassels-Weilers alleges developers Ian Livingstone and Max Fowles-Pazdro concealed (Luca Lanzetta Group)
Mansion buyer beware: $43M spec home a “catastrophic failure,” suit alleges
Mansion buyer beware: $43M spec home a “catastrophic failure,” suit alleges
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
Helen Mirren and Taylor Hackford with their Hollywood home (Getty, Redfin)
Helen Mirren and Taylor Hackford list storied Hollywood estate for $18.5M or $45K per month
Helen Mirren and Taylor Hackford list storied Hollywood estate for $18.5M or $45K per month
Director Todd Phillips and the property (Getty, Coldwell Banker Realty)
“The Joker” director seriously asks $35M for Beverly Hills mansion
“The Joker” director seriously asks $35M for Beverly Hills mansion
arrow_forward_ios

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

Loading...