Former $100M Bel-Air megamansion now “priced to sell” at $59M

He once asked $100 million for a 41,000-square-foot spec mansion in Bel-Air – which now lists for a fire-sale price of $59 million.

The developer, Westside Property Group CEO Ty Cueva, has renamed the house and changed listing agents for the eight-bedroom, 21-bathroom estate at 10697 Somma Way, Mansion Global reported.

Instead of UNICA, the hillside behemoth has been rebranded as the Somma Estate.

“Realistically in this market, this is what it’s worth, it’s priced to sell,” Shawn Elliott of Nest Seekers, who brought the home to the market last week alongside David Parnes of the Bond Collective at The Agency and Branden Williams of Williams & Williams, told the newspaper.

The price cut amounts to $41 million. With its new price of $59 million, which is “slightly below market value,” Elliott said, competing bidders may end up pushing the final sale price beyond that ask. 

The megamansion, built in 2017 as the ultimate “billionaire entertainer’s paradise,” has since struggled to attract a billionaire buyer. 

First listed at $75 million, its price climbed the rollercoaster the following year to $100 million, a 33-percent increase, before tumbling in 2020 to $78 million.

To make ends meet, the owner of the 1.3-acre estate – with eight wet bars, an indoor basketball court that can be turned into a dance floor, a 36-seat theater, a recording studio, a wellness center, an indoor pool, a steam room, a salon, a fitness studio and an auto gallery for up to 20 cars, with an option to add another 20 – has rented it for as much as $500,000 a month.

The white, three-story Spanish Villa-style mansion is trimmed in black inside and out. While early depictions show its tile roof in a Mediterranean red, it has been updated to arctic blue.

Outside, the grounds have multi-level terraces, an infinity edge, Olympic-size pool and spa, a kitchen and a giant outdoor TV. 

Newly landscaped and redesigned after acquiring some of the property next door, “I think the ‘wow factor’ is there,” Elliott said.

— Dana Bartholomew