$150 Million Offer Declined On This 42,000 Square Foot Los Angeles Compound | Homes of the Rich – The #1 Real Estate Blog

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  • Daniel

    Dumbest. Move. Ever. 28-bedrooms/36-baths is the second dumbest move ever.

  • rob

    Beautiful modern home. I am having a hard time believing this.

  • Teddi

    What am I missing here? Because they lost me at 1.5 acres. Unless this is the owner(s) dream house with no intention of ever selling…EVER, rather ridiculous to think they are going to get more than $150 million. As nice and as huge as it is, it’s insanity. So…there must be something we are missing. Like a middle eastern prince who MUST have that house because he needs all those bedrooms for his entourage and wives.

    On a similar note, that ridiculously priced CT fixer upper mansion that had been listed for $190 million dropped by $50 million today. I remember arguing that the price was absolutely ridiculous and either the people were high or they set that price to get free publicity. Don’t think I’ve ever seen a price drop by that much in one sitting.

    Now we have this nonsense. $150M turned down for a 28 Br megamansion on 1.5 acres. It better be that they don’t want to sell rather than looking for more money. It’s one of very few contemporary houses I’ve seen that I actually like. But don’t like it enough to think $150 million makes sense. Unless you have a harem or are converting it into a motel, that number of bedrooms is ridiculous.

  • nalin

    that house is amazing! 28 bedrooms seems excessive though

  • Tay

    They didn’t get a 150 million dollar offer, it’s just for publicity. The owner is probably putting it on the market soon. You can see into the house on google street view lol… It’s right on the street! I’d be surprised with a 50 million dollar offer…

    • Teddi

      You’re right. It’s all but touching the neighbor’s property and it’s right on the street. That’s always a personal turn off for me. I’ll admit it’s a stunning home (and I don’t even like contemporary) but I’m not seeing $150 million unless someone REALLY wants to live in Bel Air and REALLY must have that number of bedrooms on the property. Like a really wealthy Sister Wives family.

    • Taylor

      I couldn’t agree more. I remember watching seeing a commercial for this show and new what a blatant lie the statement about the offer was. You can tell how played up the entire show is.

  • Grrrowler

    I love this house. I hate that it has 28 bedrooms and would prefer it to be smaller with fewer bedrooms, but still kept in the same style. The $150 million dollar offer is pretty insane, and the owner should have taken it, even if he/she wasn’t planning to sell.

    • Teddi

      I don’t think I mind the 28 bedrooms as much as I mind 28 bedrooms on such a small lot. If there are enough visitors to fill it to capacity, it’ll be like a hotel. Whole lot of people in a confined structure.

      • Grrrowler

        I avoided the hotel comparison, because I use it a lot, but you’re right. 28 bedrooms filled with two people per room would be more than a small gathering of people in the house.

        • Teddi

          I don’t think there is any way to avoid the hotel comparison. Imagine 28 – 56 people staying and sleeping in one place. What else can you compare it to? First of all, minus all guests/visitors, you’d need 4 full time housekeepers to keep up the home. Then add house manager, a gardener and in all likelihood, a chef. That’s just every day staff. Now fill the house with over 50 people and enough corresponding staff to deal with that crowd, how can you not think hotel. If ever there was a time to say it…this is it.

  • opinionfree

    First and foremost, the $150 million offer. If it ever happened, it could have been from the paper boy, who knows or really cares. The same with the bed/bath counts. I’m reading lots of strong posts, regarding both. Not exactly sure why.
    The house, although the size of a Wal-Mart, looks livable. That is a true testament to quality design. The exclusion of double height this and that, tasteless furnishings and impress the guests with over the top design tricks. If ever I’ve seen a home that screams confidence, this is it.
    The price is hard to justify. Nothing in the structure or land is priceless or irreplaceable, it’s just well done. Replacement cost wouldn’t come anywhere near the alleged offer amount and that speaks volumes.

  • c

    This house has been being shopped quietly for $150m for awhile now. So this is clearly just for publicity… I could see them having got an offer that was turned down and it was mis-reported from listing to offer price.

  • Venom

    Bwahahaha, BS. I see a $20 million home (L.A. $50 million) max. I get bored with placed too fast to spend $150 million on a home, I can’t understand how someone with unlimited money would ever want to spend that on a home. I would be gone to different states and countries every couple of weeks plus the time I would be spending on my yacht. I could not imagine needing anything more than a Beverly Park estate max or maybe a home in Malibu for family get togethers or parties.

    • Teddi

      If you had a billion dollars burning a hole in your pocket, then buying expensive properties is a great way to park it/invest it. And depending on where you buy, it’s a much safer investment than investing in stocks or leaving it in a bank account. Plus they have to have a place to call home that can also manage large formal functions. Two birds, one stone.

      But this is Bel Air. Not Monaco or NYC. Just as with the Greenwich estate, I’m not sure what they are thinking to justify the price. Bel Air is pricey but not Manhattan pricey. being big and pretty just aren’t enough.

  • Tony

    This bull crap is not worth $150 million. Its only on 1.5 acres and the quality is not all that. This is another one of those over-priced spec homes jammed onto a tiny lot just like that Hadid home. The owner has to be stupid to turn down a $150 million offer if that is true. Maybe this is just publicity that the owner released to the press to drum up interest in the property.

  • John

    28 bedrooms and only a 24-car garage. So, last ones home parks their car outdoors ? Not cool. That is just bad planning. The owner must drop the price by 20 million just because of this blunder

    • Kenny Forder


      • Ilios

        I didn’t get it. So, last ones home parks their car outdoors ? What does that mean?

    • Teddi

      LMAO. That’s funny.

  • Scott

    This is one of the few Landry houses I can get on board with (it’s covered extensively in their latest book). As far as the lot size/positioning, this is Bel Air we’re talking about; almost everything is similarly situated. $150 million? Maybe not, but I wouldn’t be surprised if it hit the $100 million mark.

    • Tony

      @Scott, Thats not true. The Manor is on almost 5 ACRES. Fleur Dy Lys is on about 5 ACRES. Also that house that was featured in The Body Guard is on a good amount of acreage. I don’t know the exact amount but I know its quite a bit. Also Jeff Greene’s home in Beverly Hills is on 25 acres. Also Owlwood in Bel Air (Holmby Hills) area is on around 10 acres overlooking a golf course. And there’s another home in Bel Air that’s on around 5 acres in the middle of a golf course. These are the only homes I can think of that were priced at $150 million or more but they are all on around 5 or more acres and most of them are located in a prime part of Bel Air on a very unique lot. Most homes on 1.5 acres are priced at around $40 million or less (maybe $50 million at most).

      • Teddi

        I’m with Tony on this. It’s not as if 1.5 acres for $150 million is the norm in LA. They aren’t on a waterfront and they aren’t in Manhattan or Monaco or London or Tokyo.

        If they want more than $150M, then they better either move the property somewhere more exclusive or get more land. Right up on the road and spitting distance of the neighbors isn’t going to cut it. There’s pricey and there’s exclusive. Bel Air is the former. When they can only build vertically or there is a mandate that only a certain number of homes are allowed to be built in the area (like they do on Singer Island) then they’ll be in the realm of exclusivity and can claim 1.5 acres is a lot of land. They aren’t there yet. And when a lot of LA megamansions are situated on more than 3 acres, there really is nothing they can say to justify that price.

      • Scott

        What’s not true? I said ALMOST everything is similarly situated, which is backed up by your own assertion.

        The Spelling and Saperstein houses are in Holmby Hills, not Bel Air, by the way. The Spelling house is on the former site of the Bing Crosby estate, which accounts for its large size. The Sapersteins spent years to accumulate the land their house is situated on. Beverly House is on approximately 3 acres, and again, owes its large size to the historical nature of the property.

        The point is, very few properties in Bel Air are on lots larger than 1.5 acres. There are a few, but they are the exception, rather than the rule; it would be very difficult, indeed, to assemble a larger parcel (in any reasonable period of time). If you drove through Bel Air, you would understand what I’m talking about.

        Also, I believe I pointed out that I felt like $150 million was unrealistic. Not that I would compare it to The Manor, in any case, as that required significant renovations to bring it up to date. Similarly, Fleur de Lys doesn’t offer the same scope of accommodations, which would be certain to appeal to a specific set of buyers. You would also have to want to live in the Saperstein’s version of an 18th century French chateau, which obviously has proved to be a stumbling block to the listing agent.

        Apples & Oranges

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  • Justice-Rainger

    He’s a great idiot by cancelling the offer. They should sue him in court for that cause they lost their money. $150 millions is not something that you would drop that easy.

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