The opportunity to build a mansion on an 11-acre property at the intersection of three of Los Angeles’ most exclusive neighbourhoods — Bel Air, Beverly Hills, and Holmby Hills — is up for grabs for a whopping $US115 million.
Dubbed “The Park Bel Air,” the hilltop property will include three separate homes. According to Bloomberg, buyers can either purchase one lot for $US45 million or have the developer build a mansion based on their designs. Those homes would range from 56,000 to 61,000 square feet and cost upwards of $US115 million. The White House, for comparison, has 55,000 square feet of living space.
The three homes at The Park Bel Air would also offer privacy as well as panoramic views of the city, canyon, and Pacific Ocean.
The estates are being developed by Domvs London and financed by Junius Real Estate Partners, an investment arm of JP Morgan.
“Estates of this calibre in Los Angeles rarely come to market, let alone a collection of three in old Bel Air presented as thoughtfully as Park Bel Air,” Kurt Rappaport, cofounder and owner of luxury real estate brokerage Westside Estate Agency, said in a press release announcing the project. “No one should be surprised to see the trend for prime property sales above $US50 million in the Platinum Triangle continue.”
If any of the three homes sells for more than $US115 million, it would be a record for the area. In December 2014, Minecraft creator Markus Persson paid a record $US70 million for a spec home in Beverly Hills.
Film producer Nile Niami is currently developing a home in Bel Air that’s set to be priced at an astronomical $US500 million.
The Park Bel Air project, on the other hand, gives ultra-wealthy buyers the chance to build out their mega-mansions to the exact specifications they want.
“We’re providing ultra-high net worth buyers with a bespoke lifestyle choice in which every aspect of their estate can be thoughtfully curated,” Jon O’Brien, founder and CEO of Domvs London, said in the press release.