Billionaire private equity dude/Detroit Pistons owner Tom Gores has apparently given up on his dream of a lavish megamansion just above the Bel Air Country Club and is selling the half-finished property for $50 million. At a loss. The listing agent appears to have pulled the listing after we asked about it yesterday, but but ever-reliable Real Estalker is on it: The parcel, already graded, totals 3.13 acres and includes the partly-finished megamansion, which is currently at 28,619 square feet but could go up to about 40,000 square feet. Good lord. And because that couldn't possibly be enough space, the site plan also shows "at least one ancillary structure of considerable size … [and] an existing, sizable pool house next to the existing swimming pool."
Gores apparently bought about half the property in late 2008 for $18 million and the rest in early 2009 for $38 million, for a total of $56 million (plus all the money he's now dumped into the place). Maybe Gores is desperate enough to take a bath in Bel Air because he realized he has too many houses: Just in Los Angeles, he has an 18,000-square-footer in gated Beverly Park, which he bought for $21 million in 2010, and an oceanfront house in Malibu.
· Tom Gores Puts Big Number on Unfinished L.A. Estate [Real Estalker]