Investor couple behind Sugarfina price their Bel-Air mansion at $115M

Financiers and Sugarfina board directors Paul Kessler and Diana Derycz-Kessler are listing their Bel-Air estate — named Villa Del Amor — for $115 million.

The Kessler’s listing marks one of the priciest so far this year for the 15,000-square-foot mansion at 10936 Chalon Road. The house sits on 1.65 acres behind a tall hedge.

Aaron Kirman, Cindy Ambuehl and Daniel Milstein of Christie’s International Real Estate hold the listing. The Kesslers are looking to sell to be closer to family on the East Coast, according to Christie’s.

The couple is the founding duo behind investment firm Bristol Capital Advisors, where he serves as CEO and she is co-manager. Bristol owns luxury candy company Sugarfina.

A nod to Bristol Capital’s investment is found inside the Kesslers’ mansion, with Sugarfina candy bars inside the guest rooms and theater of the estate.

The Kesslers bought the land and built the custom villa. The nine-bedroom, 13-bath home was designed by Robert Sinclair of Westwood Village residential design firm Sinclair Associates Architects Inc.

Errol Dejager of Newport Beach interior design firm Dejager Design Inc. drew from Moroccan influences for the home’s interior.

Other highlights of the estate include a chapel, four courtyards, nine fireplaces, a library and  views overlooking the Bel-Air Country Club golf course.

The market will decide whether the asking price of $115 million is aspirational or realistic. On one hand, Swiss aviation billionaire Thomas Flohr recently sold his Bel-Air mansion of similar size and style for $22.5 million after originally asking for $63 million. On the other hand, the Bel-Air estate of late financier Robert Day listed last month for $150 million.

Bristol Capital acquired Sugarfina out of bankruptcy in 2019, paying $15.1 million for the business that has built a fan base for its Champagne Bears, dark chocolate sea salt caramels and other flavors aimed at adults. 

Sugarfina is shuttering underperforming stores after seeing 2023 net revenue fall 13.2 percent from the prior year to $26.8 million, according to the company’s annual report. Its net loss widened from $2.1 million in 2022 to $6.8 million last year.