Mohamed Hadid’s $250M Beverly Hills mansion moves into bankruptcy

Spec developer enters Chapter 11 with LA’s priciest home listing

Mohamed Hadid and renderings of the project (Getty, Hilton & Hyland)
Mohamed Hadid and renderings of the project (Getty, Hilton & Hyland)

Spec mansion developer Mohamed Hadid’s web of financial and legal entanglements continues to grow with the possibility of losing the priciest piece of his portfolio, a partially built Beverly Hills mansion that holds the distinction of being Los Angeles County’s most expensive residential listing.

On Monday, Hadid filed for Chapter 11 bankruptcy on 9650 Cedarbrook Drive, a planned 78,000-square-foot home that’s currently on the market for $250 million, according to documents filed in California’s Central District court in Los Angeles. The project, which sits on a 37-acre lot, is the largest-ever permitted residential construction in Los Angeles, according to a listing on Zillow.

The complex, which consists of 12 separate parcels, includes a main residence and a guest house. Plans call for 19 bedrooms, 28.5 bathrooms, a Turkish bath, indoor and outdoor pools and a bowling lane.

Hadid offered buyers two options for the property. For the more modest price of $92 million, a buyer could take over construction once the foundation is complete. The astronomical $250 million price is for a spec home that would be delivered upon completion.

The property resurfaced on listing sites in August of last year. At the time, Rodrigo Iglesias, the Hilton & Hyland agent in charge of the listing, told TRD that he was looking to bundle the Cedarbrook Drive site with an adjacent property, also owned by Hadid, that’s nearly twice as large. That property, which is undeveloped, has been the subject of a protracted dispute between Hadid and conservationists.

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The site, a popular hiking route known as Hastain Trail, is located right next to Franklin Canyon Park. Hadid intended to build a luxury gated community at the site. Opponents, meanwhile, want public access to the 1.5-mile loop preserved. The Hadid LLCs that own the adjacent site have since filed for bankruptcy.

Several contractors have filed liens against the Cedarbrook Drive property since 2019, records show. One of the latest claims, from April 9 of last year, disclosed a debt of $350,000. Several of the liens have since been withdrawn.

In its Chapter 11 filing, the entity that owns the Cedarbrook Drive property, which counts Hadid as its sole member, estimated its assets between $100 million and $500 million. The limited liability company listed 22 creditors.

The filing comes just months after the demolition of a Bel-Air mansion that Hadid once attempted to sell for $100 million. It was torn down after a judge declared the property “a clear and present danger” to neighbors.

Lewis Landau, Hadid’s lawyer, did not respond to a request for comment.