The sale of a 20,000-square-foot mansion in Bel Air accounted for more than half the total amount of the five priciest residential investment sales in Los Angeles County in May.
While spec home prices in L.A, have been cut in recent months and sales have declined, a buyer from Saudi Arabia purchased the massive estate for $45 million, far outpacing the next highest sale of $10.4 million in Brentwood.
All of the top five homes cost at least $9 million, and together they combined for $83.2 million. The homes on the list are located in high-end enclaves Brentwood and Bel Air, as well as two spots close to each other near the beach in Santa Monica.
The Real Deal compiled the list based off property records from PropertyShark.
281 Bentley Circle — Saudi buyer | $45 million
The sale that topped the list was part of a $52.2-million purchase by a Saudi Arabian buyer, through attorney Philip D.W. Hodgen. The seller was L.A.-based diamond manufacturer Rafael Zakaria, who purchased the land for $6.6 million in 2013. He spent four years building the 20,000-square-foot estate, and listed it earlier this year for $48 million. The spec mega-mansion in Bel Air was purchased with the home next door, at 201 Bentley Circle. That home was designed by Richard Neutra, and sold for $7.2 million. It is reportedly for the buyer’s staff.
12710 Marlboro Street — Raphael and Mehrnaz Javid | $10.4 million
Bryant and Carleen Riley sold their home in Brentwood to Raphael and Mehrnaz Javid for $10.4 million. The residence at 12710 Marlboro Street was built in 2000 and includes six bedrooms and eight bathrooms spread over 8,500 square feet. They purchased the 17,685-square-foot property for $5.4 million in 2001. It was listed for $13 million in 2016 and again for $10.9 million last October.
15000 Altata Drive — Steven L. Kaplan | $9.5 million
A trust belonging to Steven L. Kaplan purchased a home on a 15,000-square-foot lot in the Pacific Palisades. The seller was a trust that belongs to Howard and Karee Rowen. The home on Altata Drive sold for $9.5 million. It’s a few blocks from Will Rogers State Beach, and it includes four bedrooms and five bathrooms over 6,000 square feet. It was last purchased for $6.1 million in 2016, records show.
306 Georgina Avenue — Helen and Roberta Schwarzkopf | $9.3 million
Helen and Roberta Schwarzkopf purchased a 100-year-old home in Santa Monica for $9.3 million. The seller was the Janna Stern Living Trust and San Pasqual Fiduciary Trust Company. The property on Georgina Avenue includes five bedrooms and four bathrooms with 4,460 square feet of space on a 21,110-square-foot lot. It was built in 1919 and renovated in 2007.
1172 N. Doheny Drive — Roger Davino and Empire Trust | $9 million
Wellington Yang, a former actor, singer, producer and writer, sold his home in West Hollywood to Roger Davino and Empire Trust. The deal was for $9 million. The home was built last year on a 10,320-square-foot lot just north of the Sunset Strip. It includes seven bedrooms and seven bathrooms over 6,485 square feet.