In Bel-Air, a $400-million mega-mansion aims for | Real Estate news

What does $400 million buy in Bel-Air? Thirty-nine bedrooms, 59 bogs, 70,000 sq. ft and a piece of historical past.

The mega-mansion, which surfaced for sale this week, is in search of to be the most costly home sale in U.S. historical past. The current report belongs to Ken Griffin, who paid $238 million for a New York City penthouse in 2019, while the California report belongs to James Jannard, the Oakley founder who bought his Malibu mansion for $210 million in 2024.

The home serves as the household compound of the Al-Thanis, the uber-wealthy household that has ruled the oil-rich nation of Qatar since the nineteenth century. It’s just one small piece of their worldwide assortment of belongings, which embody accommodations, resorts, yachts, thoroughbreds, a French soccer workforce and the Miramax movie studio.

L.A. has long served as a luxurious playground for the royal household. In 2011, the teenage prince, Sheikh Khalifa bin Hamad bin Khalifa Al Thani, arrived at USC with a small military of servants for an undergrad crammed with luxurious Lakers suites, unique vehicles and a full-time residence at the Beverly Wilshire resort. (A Times investigation raised questions about his degree after he was allowed to skip class for security causes and obtained a Masters degree for a period in which he never stepped foot on campus.)

The Al-Thanis purchased the property as an empty lot for $35 million in 2010. They set out with an limitless funds of time and money, pouring $430 million into the property over the course of almost a decade, according to real estate agent Jack Harris, who shares the itemizing with Michael Fahimian.

Harris couldn’t disclose particulars about the homeowners but said they needed to construct “the best house L.A. has ever seen.”

Completed in 2018, the compound sits on an eight-acre promontory lot overlooking Bel-Air Country Club. There’s a 23-bedroom main home, 16 bed room guesthouse and a heap of facilities including a movie show, wellness facility, tennis court and a number of swimming swimming pools.

Outside, rolling lawns dotted with sculptures take in views from Downtown L.A. to Catalina Island.

So why are they promoting after pouring tons of of thousands and thousands of {dollars} into the property over the better half of a decade? “They don’t use the property as much as expected,” Harris said.

The proprietor poured $430 million into the property over the course of almost a decade.

(Simon Berlyn )

As for whether or not a single-family home can command $400 million, or something close, it stays to be seen.

A handful of Southern California properties have aimed for comparable costs over the years and fallen properly short. In Beverly Hills, a 157-acre property hit the market for $1 billion in 2018, but an possession battle led to it promoting at a foreclosures public sale for $100,000. In Bel-Air, a 105,000-square-foot spec home was marketed for $500 million, but by the time it was completed, it was already falling into disrepair and ended up being auctioned off for $141 million.

However, Harris said the price tag matches the property.

“$400 million seems like an aspirational asking price, but this is the rare home where the money put into it exceeds the price tag,” he said. “I’ve been to all the top properties in L.A. Nothing holds a candle to this.”

Harris said he’s already obtained curiosity from a number of critical consumers, including that despite the gargantuan dimension, it will still be a good match for a small household.

“People hear 70,000 square feet and automatically think it’s unapproachable, but the house lives like a family home,” he said. “It doesn’t feel lonely.”

Since the property is situated in the town of L.A., it’ll be subject to the Measure ULA “mansion tax,” a switch tax levied on all gross sales above $5.3 million. Assuming it fetches $400 million, the mansion tax alone can be $23.8 million.