A newly built mansion perched on a promontory above the Sunset Strip in Los Angeles has sold for $25.6 million, marking the priciest home sale in L.A. County so far this year.
At the same time, the property traded for about half its original asking price, adding to a list of luxury homes in the L.A. market whose aspirational values fall before finding a buyer.
The mansion, located at 8201 Bellgave Place, is a four-bedroom, four-bath home designed by South African architecture firm SAOTA. It has a heated pool and spa, a walk-in wine cellar and outdoor lounge areas. It offers views stretching from the Griffith Observatory to the Pacific Ocean, according to a listing on Zillow.
The property sits adjacent to the Stahl House, the Modernist mansion described by historic preservation organization L.A. Conservancy as “one of the most iconic and photographed houses in the world.”
The seller of 8201 Bellgave is spec developer Clive Robertson, who heads a company called Centurion International. Robertson first listed the property in 2022 with a much higher price tag of $48 million. He finished construction on the home that year.
Months later, he cut the asking price to just under $40 million. The purchase price amounts to a 46.7 percent discount from the home’s initial asking price. The deal closed on Feb. 1, property records show.
The buyer is an entity called TechGenius Holdings CA LLC, which is managed by a British Virgin Islands company called Green Technologies and System Limited. The sole manager for the entity is SaiHui Tang.
The deal displaced the sale of the Bel-Air home of Hilton & Hyland co-founder Rick Hilton from the top of the rankings. The mansion, which was bought by Chinese billionaire Zong Qinghou, closed at $25 million in early January. Another expensive home sale that closed this year involved investor Alon Abady. He recently sold 910 North Alpine Drive, a 10,000-square-foot mansion in Beverly Hills, for $24 million.