The roster of L.A.’s most expensive house listings has a new addition as 281 Bentley Circle, a 20,000-square-foot mansion in Bel Air, recently came on the market with an asking price of $75 million. or $3,750 per square foot.
It ranks among Los Angeles’ most expensive homes, but there are others ahead of it in the ranking of the city’s priciest listings. One is 1210 Benedict Road in Beverly Hills, an $85 million estate listed by casino mogul Steve Wynn. In 2021, the estate was listed for $115 million. In January, the ask for 1210 Benedict Road was slashed to its current level.
Another Beverly Hills home, 2571 Wallingford Drive, was listed at $85 million in June 2022. The price changed in March to about $75 million, according to listing sites.
There is a softness in the ultra high-end market, said Jonathan Miller of Miller Samuel, who puts together market reports for brokerage Douglas Elliman.
“The weakness we are seeing now is the result of the rush to close before April 1, which poached future demand in the short term,” Miller said, referring to the effective date of L.A.’s Measure ULA transfer tax on real estate deals above $5 million.
The last time 218 Bentley Circle was on the market was 2019, when it was purchased for $45 million, according to Zillow. The buyer was an unidentified Saudi.
Designed by Tag Front architects and located on more than one acre of land, 281 Bentley Circle offers amenities such as a 20-seat theater, a spa and a gym. It was listed by Florence Mattar of Coldwell Banker Realty.
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A 2019 story in The Real Deal noted that the Saudi buyer of 281 Bentley Circle also picked up an adjacent listing, which was a $7.2 million home designed by influential architect Richard Neutra.
The $75 million listing comes a week after Jay-Z and wife Beyonce paid $200 million for a Malibu estate, the most expensive home in the history of California.