The word mansion might not quite capture the massive scale and general over-the-topness of this Bel Air residence built by notorious real estate mogul Mohamed Hadid. It’s really more of a palace—complete with meticulously landscaped gardens, fountains, and a guard house.
Hadid sold the property, known as Le Belvedere, to an obscure corporate entity for $50 million back in 2010. Now, The Wall Street Journal reports the home is returning to the market with an $85 million price tag. Interestingly, that’s the same price Hadid initially listed it for when it last sold, but Joyce Rey of Coldwell Banker, who is listing the property with The Agency’s Stacy Gottula, tells the Journal that times have changed since then and the high-end market is experiencing an “incredible escalation in values.”
Hadid no longer owns the residence, but he reportedly still resides there, leasing the more than 40,000-square-foot home from its current owners. Meanwhile, the developer continues to face heat over another nearly cruise ship-sized residence he’s building, also in Bel Air. Last year, the city of Los Angeles hit Hadid with multiple misdemeanor charges for building parts of the home without a permit and for failing to comply with Building and Safety on code violations.
Robert Shapiro, who is Hadid’s attorney (naturally), tells the Journal that his client is now cooperating with the city to make sure the project meets code requirements.
In addition to sheer enormity, Le Belvedere offers potential buyers such amenities as a ballroom with capacity for up to 250 guests, a screening room, gymnasium, Turkish hammam, 70-foot infinity pool, and, of course, separate living quarters for staff.
- Los Angeles Mansion Built by Mohamed Hadid Seeks $85 Million [Wall Street Journal]
- Who Plunked Down $50 Million for Bel Air's La Belvedere? [Curbed LA]
- The Lavish Los Angeles Mansions of Dictators' Kids, Plutocrats, and Other Shady Figures [Curbed LA]
- Bel Air Chateau Could Be Biggest US Home Sale This Year [Curbed LA]