A Mega-Mansion in L.A. Sold for a Record $126 Million . . . Half the Asking Price
Real estate prices are insane right now, and it doesn’t get any more insane than this: A mega-mansion in L.A. nicknamed “The One” just sold at auction over the weekend for a record $126 MILLION. And the crazy part is that’s less than HALF the asking price of $295 million.
A real estate developer started building it in Bel-Air almost a decade ago, and hoped to sell it for HALF-A-BILLION dollars. But then his company defaulted on $165 million in debt, so a bankruptcy court took it over.
It’s still not clear who bought it. But with closing costs and commissions, they’re actually paying $141 million. Here’s what you get for that much money . . .
The mansion itself is 105,000 square feet on 3.8 acres of land overlooking Hollywood. It’s got 21 bedrooms . . . 42 bathrooms, plus seven half-baths . . . 50 indoor parking spaces . . . five pools . . . a movie theater . . . a bowling alley . . . a golf simulator room . . . a salon and spa . . . and a 10,000-square-foot sky deck.
The listing is still up on Zillow if you want to see pictures. With 20% down, the mortgage would be just under $600,000 a month, plus another 80 grand in property taxes a month. (Here’s a photo.)
So cool, the rich get discounts on homes while the middle class is paying $30,000 over asking for a 3 bedroom, 2 bath. Got it.