Commercial and residential developer Vella Group has sold a newly-built mansion in Bel Air in one of the most expensive home sales in Los Angeles so far this year.
The property, a 16,500-square-foot home designed by Irish architect Paul McClean, changed hands in a $37 million deal, according to Zillow. The deal closed on February 25. The buyer is unknown. The Agency’s James Harris and David Parnes, the pair who hold the listing, declined to comment on the transaction.
The sale ranks as the third-priciest residential deal in Los Angeles so far this year, a TRD analysis of listings show. The most expensive home sale for far in 2022 in the city is singer Adele’s $58 million purchase of Sylvester Stallone’s Beverly Hills mansion. The deal for that property, at 30 Beverly Park Terrace, closed on February 24.
The Mediterranean-style home, at 675 Perugia Way, was completed last year. The six-bedroom, 12-bath property, which sits on more than two-thirds of an acre, contains a three-level waterfall that flows into a reflecting pool. It also has a pool and spa, a fireplace lounge, a gym and a 20-seat theater.
Zach Vella and his Vella Group, which has offices in both Los Angeles and New York, recently sold the headquarters of Ring, the home security arm of online retailer Amazon. The Hawthorne property, with the address of 12515 Cerise Avenue, was sold to IDS Real Estate in a $65 million transaction.
Vella Group’s portfolio mostly includes various other properties in Southern California, New York Chicago and Las Vegas, according to its website. Its Los Angeles holdings include the London Arts Club at 8920 Sunset Boulevard and the Arts Matrix at 670 Mesquit Street.