Price on Bel-Air property pairing: $77M
Package of side-by-side estates offers ‘ultimate control” in luxe enclave
The old adages of “location, location, location” and “size matters” have come together in a $77 million listing that pairs a couple of prime properties in Bel Air.
The combo deal traces its roots to February, when Aaron Kirman of Aaron Kirman Group at Compass listed the seven- bed, nine-bath, 14,282-square-foot mansion at 670 Perugia Way in Bel Air for $38.5 million, or $2,696-per-square-foot. The house is owned by Alessandro Cajrati Crivelli, the founder/chairman of exclusive members-only club Spring Place, who also is known as the developer of the Zona Tortona fashion district in Milan.
Kirman, Crivelli and real estate agents Neyshia Go of The Go Group at Sotheby’s International Realty along with Branden Williams of Williams & Williams Estates Group later persuaded the owner of the neighboring estate at 642 Perugia Way to join forces. The owner of the five-bed, nine-bath, 14,438-square foot home that was valued at $38.5 million, or $2,667-per-square-foot, was not disclosed.
Crivelli developed both properties, located by the Bel Air Country Club, over the past decade.
The homes, with a combined square footage of 28,720-square-feet, were listed earlier this month at the current $77 million–or $2,681- per-square feet. The two properties also combine grounds of 2.2 acres, with three pools.
Listing the neighboring estates together is a gambit to interest a buyer looking in part for a lot of land and multiple luxe roofs, perhaps as a big, multigenerational family residence.
The offer also takes into account some psychology of deep-pocketed buyers.
“Most billionaires want to control the property next door,” Go said. “670 (Perugia Way) is at the end of a cul-de-sac. So (642) is the only direct neighbor––this is the ultimate control.”
Offers for the individual houses will also be considered, Go said.
670 Perugia Way was designed by Los Angeles architectural firm Marmol Radziner and English architect Felicity Bell. It features a high-24-foot ceilings, as well as an indoor pool, gym, art studio and cabana/sunbathing deck.
642 Perugia Way was designed by Quinn Architects, and features a 65-foot infinity pool, a gym, a movie theater, and a temperature controlled wine cellar.
While the $77 million price tag sounds pricey, Kirman said it was reasonable when compared to other high luxury properties in Bel Air. Comps typically range from $2,200-per-square-foot to $4,500 – per-square-foot. A neighboring compound, 500 – 512 Perugia Way, which was owned by the late 1960s movie star Yvette Mimeux, was listed for $49.5 million in March. It also blends two lots, with a Tuscan-style main house and Balinese-style cottage. Mimieux’s estate was listed by Linda May of Hilton & Hyland and Jade Mills of Coldwell Banker Realty.
Go said that it was just a coincidence a listing with two houses was a neighbor. It did not influence how 642 – 670 Perguia Way was offered.
“This need for compounds, more control and more lands is becoming more important for the uber wealthy,” she said.