This ambassador’s Bel Air estate sold for half its asking price

Home was listed at $37M

Los Angeles /
Oct.October 23, 2019 05:00 PM
Carla Sands and her former Bel Air home (Credit: U.S. Embassy in Denmark)
Carla Sands and the Bel Air home (Credit: U.S. Embassy in Denmark)

The slowing Los Angeles luxury market has claimed another victim.

U.S. Ambassador to Denmark Carla Sands sold her Bel Air estate for $19.5 million, or just over $1,300 per square foot. That’s a near 50 percent price chop from its original ask in March, according to the Los Angeles Times.

Sands, an executive at Vintage Capital Group and a major contributor to President Trump’s 2016 campaign, had listed the property at $37 million, or just over $2,500 per square foot.

The buyer was not identified. Jeff Hyland of Hilton & Hyland and Joyce Rey of Coldwell Banker had the listing. Drew Fenton of Hilton & Hyland represented the buyer.

Sands and her late husband, Fred — a real estate investor — built the 14,700-square-foot Italian Villa in 2002. The four-acre compound on Moraga Drive has four bedrooms, nine bathrooms, a library, walk-in bar, swimming pool and two guest houses. It also includes A 10-car motor court.

Those amenities were not enough to persuade buyers to bite at the original asking price. That has been the case with numerous upscale homes in L.A. over the last year, whose sellers have been forced to chop their original asking price significantly to close the deal. It includes a range of luxury homes, from $6 million to $10 million properties to the ones in the stratosphere.

One recent example of an ultra-luxury listing that sold at a sharp price chop was spec builder Ardie Tavangarian’s 25,000-square-foot Bel Air mansion. It sold for $75 million, chopped from its $88 million asking price. Another was Petra Ecclestone’s Spelling Manor, also in Bel Air. It sold for a record $120 million in July, a price that was still down 40 percent from its $200 million asking. [LAT] — Matthew Blake 


Related Articles

arrow_forward_ios
10671 Chalon Road and Coinbase CEO Brian Armstrong (Google Maps, John Pawson, Getty)
Coinbase founder buys Bel Air manse for $133M
Coinbase founder buys Bel Air manse for $133M
Mohamed Hadid and 901 Strada Vecchia Rd (Getty, Realtor)
Hadid wins $900,000 break on Strada Vecchia tab
Hadid wins $900,000 break on Strada Vecchia tab
Mohamed Hadid (Getty)
“Horrible day for Hadid” in Franklin Canyon saga
“Horrible day for Hadid” in Franklin Canyon saga
Mohamed Hadid and Franklin Canyon (Getty)
Same outfit, similar delay in other Hadid BK case
Same outfit, similar delay in other Hadid BK case
A deal that would bring Mohamed Hadid’s failed Strada Vecchia mansion closer to demolition has been delayed (Getty)
Demolition derby rolls on at Hadid’s Strada Vecchia
Demolition derby rolls on at Hadid’s Strada Vecchia
Trevor Noah and the Bel Air house (Redfin, Getty)
Trevor Noah eyes $30M for Bel Air mansion flip
Trevor Noah eyes $30M for Bel Air mansion flip
Pink lists Malibu pad months after buying it
Pink lists Malibu pad months after buying it
Pink lists Malibu pad months after buying it
King Abdullah II bin Al-Hussein of Jordan and his 3 Malibu properties at  29140 Cliffside Drive, 29150 Cliffside Drive, 29208 Cliffside Drive (Getty, Redfin, Realtor)
These are King Abdullah’s secret Malibu properties
These are King Abdullah’s secret Malibu properties
arrow_forward_ios

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

Loading...