Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Bel Air spec mansion with 21 bathrooms sells for $94M

10/25/2019

Download PDF

Once listed for $250 million, real estate developer Bruce Makowsky’s Bel Air mega-mansion  has sold for $94 million after nearly three years on the market and a $60 million lawsuit filed against Zillow.

The flashy Los Angeles spec house, which Makowsky first listed in 2017, is one of the most expensive sales in the city this year. Named the Billionaire, the 38,000-square-foot home boasts four stories, 12 bedrooms and 21 bathrooms.

Every inch of the mansion is doused in ultra-flashy luxury  — the top floor has a 17,000-square-foot entertainment deck overlooking the city while the back patio has a spacious infinity pool. A non-operational helicopter once used by filmmakers in movies sits on the roof. Inside, visitors will find a 40-seat movie theater, massage studio, fitness center, a cellar full of rare wine and champagne and a automobile gallery with $30 million worth of custom cars. The home’s interior is decked out in furniture and accessories from designers such as Fendi, Bentley and Louis Vuitton.

Chania

Real estate developer Bruce Makowsky’s Bel Air mega-mansion has just sold for $94 million.

Chania

Makowsky first listed the house in 2017 for $250 million.

Chania

The house sits at 38,000 square feet and has four stories, 12 bedrooms and 21 bathrooms.

Chania

It comes with a 40-seat movie theater, massage studio, fitness center, a cellar full of rare expensive wine and champagne bottles and a car gallery with $30 million worth of custom automobiles.

Chania

Makowsky cut the asking price to $188 million in 2018 and to $150 million again this year.

Chania

The house was also the cause of a lawsuit against Zillow after a user hijacked the listing and made it appear as though the house had sold for less.

Chania

The lawsuit is still under consideration by a judge.

Chania

Even after the price cuts, the Billionaire is the third most expensive property in L.A. county this year.

jQuery(document).ready(function(){jQuery(“#ism-slideshow-1”).find(“.carousel-control”).css(“margin-top”,”-“+(jQuery(this).find(“.active .carousel-caption”).height()+25)+”px”);jQuery(“#ism-slideshow-1”).on(“slid.bs.carousel”, function () {jQuery(this).find(“.carousel-control”).css(“margin-top”,”-“+(jQuery(this).find(“.active .carousel-caption”).height()+25)+”px”);});});

The single most important ingredient for leads Leads need the one thing they’re not getting — until now READ MORE

Nonetheless, what was once the most expensive listing in America did not sell as fast and as profitably as its owner might have anticipated — according to the Los Angeles Times, Makowsky cut the asking price to $188 million in 2018 and to $150 million again this year.

The house was also the subject of a lawsuit that Makowsky filed against Zillow. In February, a Zillow user used a Chinese IP address and a fake phone number to hack into the site and change the listing price. As a result, the listing appeared as though it had sold — first for $110 million, then $90.54 million and then for $94.3 million. Makowsky then claimed Zillow had allowed the listing to appear devalued and sued the real estate company for $60 million in damages. (The ruling, which is currently under investigation by a judge, should be made in the coming months.)

The listing for the Billionaire was held by Branden and Rayni Williams of Hilton & Hyland and Shawn Elliott of Nest Seekers International Realty. Ben Bacal of Revel Real Estate represented the buyer, who has not been identified.

Email Veronika Bondarenko

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

June 2024
Mon Tue Wed Thu Fri Sat Sun
 12
3456789
10111213141516
17181920212223
24252627282930

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...