New to the list of most expensive homes in Los Angeles is 281 Bentley Circle, a 20,000-square-foot mansion in Bel Air that recently hit the market with an asking price of $75 million. Or $3,750 per square foot.
It’s one of the most expensive homes in Los Angeles, but there are other homes ahead of it in our rankings of the city’s most expensive listings. One of them is 1210 Benedict Road in Beverly Hills, an $85 million property listed by casino mogul Steve Wynn. In 2021, the estate is listed for $115 million. In January, the asking price at 1210 Benedict Road was slashed to its current level.
Another Beverly Hills property, 2571 Wallingford Drive, is on the market in June 2022 for $85 million. That price changed to about $75 million in March, according to the listing website.
The ultra-premium market is soft, said Jonathan Miller of Miller Samuel, who compiles market reports for brokerage Douglas Elliman.
“The softness we’re seeing now is the result of hasty closings before April 1, which is poaching future demand in the short term,” said Miller, referring to Los Angeles’ ULA transfer tax on real estate transactions above $5 million. The effective date of the measure.
218 Bentley Circle was last listed in 2019 when it was purchased for $45 million, according to Zillow. The buyer is an unidentified Saudi Arabian.
Designed by Tag Front Architects, 281 Bentley Circle sits on over an acre and offers amenities such as a 20-seat theater, spa and gym. It is listed by Florence Mattar of Coldwell Banker Realty.
A 2019 Story real deal The Saudi buyer who noticed 281 Bentley Circle also chose the adjacent listing, a $7.2 million residence designed by influential architect Richard Neutra.
The $75 million estate comes on the market a week after Jay-Z and wife Beyoncé paid $200 million for one of the most expensive Malibu estates in California history.