Gala Asher sells spec home in La Quinta for a record $31M
Chicago billionaire Richard Chaifetz snaps up “hotel scale” Madison Club mansion
Developer Gala Asher has sold a 15,900-square-foot spec home in the desert city of La Quinta for $31.8 million, a record price for the lower Coachella Valley.
Chicago-based billionaire businessman Richard Chaifetz bought the six-bedroom, 11-bathroom mansion in the exclusive Madison Club enclave at 53804 Ross Avenue, Dirt.com reported.
Chaifetz, head of employer assistance firm ComPsych and owner of a Major League Pickleball team, was drawn to the 1-acre property with its own purple pickleball court.
The “hotel scale” mansion is perched high above the 8th fairway of the club’s Tom Fazio-designed golf course, with views of the nearby Santa Rosa Mountains.
The white, two-story home has floor-to-ceiling walls of glass, with 20 lounging areas on the ground floor.
It has a game room, gym, cinema, chef kitchen and numerous fire pits and water features, with shallow steps leading down to an infinity pool.
A floating staircase heads up to the home’s penthouse-style master suite, which has a balcony overlooking one of the club’s manmade lakes.
Broker Ginger Glass of Compass held the listing, while Glenn Cassell of Madison Club Properties represented the buyer.
Developed in the late 2000s, the Madison Club has become the hotspot for celebrities, with residents that include the Kardashians, actress Lori Loughlin and music executives such as Irving Azoff, Scooter Braun and Sir Lucian Grainge.
Business moguls from Apple CEO Tim Cook to Nike’s Phil Knight have also been drawn to Madison, where the initiation fee reportedly tops $500,000, with HOA fees of $20,000 a year.
Asher has built and sold many properties at the Madison Club, including a $21 million mansion purchased two months ago by Todd Pedersen, the Utah-based co-founder of the Vivint smart-home and security firm.
The Los Angeles developer has also built some of L.A.’s most luxurious mansions, including a $61 million estate just sold to Jennifer Lopez and Ben Affleck and a $100 million estate in Holmby Hills that sold in 2016 to Detroit Pistons owner Tom Gores.
Chaifetz and his wife Jill also own condos at Chicago’s Trump Tower, a $34 million oceanfront estate in Florida, an apartment at New York City’s 15 Central Park West building, and their main residence at a blufftop mansion in the Chicago suburbs.
— Dana Bartholomew