Well here’s a new homes scheme with a difference. The first house in one of the world’s most luxurious new developments, dubbed The Park Bel Air, has been offered for sale for, wait for it . . . $115 million.
An 11-acre site in the heart of Bel Air, Los Angeles, was acquired last year by Domvs London and JP Morgan’s Junius Real Estate Partners who have secured planning permission to develop three trophy estates ranging in size from 5,200sqm to 5,667sqm (56,000sqft to 61,000sqft).
The first of the homes to be offered for sale in the development comes with an asking price of $115 million – or $45 million for the site only. The property occupies an elevated three-acre site and will comprise a 3,950sqm (42,540sqft) main residence and a 1,430sqm (15,400sqft) guest house when complete.
The proposed property’s mind-blowing list of features includes two swimming pools, underground parking for 19 cars, a bowling alley and an Imax home theatre.
Estate agent Kurt Rappaport, co-founder and owner of the Westside Estate Agency, which is one of the leaders in ultra high-end sales in LA’s “Platinum Triangle” (Bel Air, Beverly Hills and Holmby Hills), stated in a press release that “demand for properties at this end of the market, both domestic and off-shore, continues to outstrip supply”.
Even at $115 million, the house is not the most expensive property on the market in LA. In nearby Beverly Hills an impossibly lavish mansion named Palazzo di Amore hit the market last year asking $195 million before being reduced to $149 million in recent weeks.
Separately, on a hilltop above the new Bel Air scheme, Hollywood movie producer-turned-developer Nile Niami made headlines this year when he announced that the 9,290-plus sq m (100,000-plus sqft) mega-mansion he is currently constructing would be listed for $500 million when completed.
