Developer Gala Asher sold a 15,900-square-foot spec home in the desert city of La Quinta for $31.8 million, a record price in the lower Coachella Valley.
Chicago billionaire businessman Richard Chaifetz has purchased a six-bedroom, 11-bath mansion in the exclusive Madison Club enclave at 53804 Ross Avenue, Reported by Dirt.com.
Chaifetz, principal of employer assistance firm ComPsych and owner of a Major League Baseball pickleball team, was drawn to the 1-acre property with its own purple pickleball field.
The “hotel-scale” mansion soars above the 8th fairway of the Tom Fazio-designed club golf course, with views of the nearby Santa Rosa Mountains.
The white, two-storey home features floor-to-ceiling glass walls and 20 relaxation areas on the ground floor.
It has a game room, gym, movie theater, chef’s kitchen and lots of fire pits and water features with shallow steps leading to an infinity pool.
A floating staircase leads to the home’s penthouse-style master suite, which features a balcony overlooking one of the club’s man-made lakes.
Broker Ginger Compass hold listingwhile Glenn Cassell of Madison Club Properties represented the buyer.
The Madison Club developed in the late 2000s and has become a celebrity hotspot, with residents including the Kardashians and actress Lori Loughlin as well as Owen Yazoff, Scooter Braun and Lucian Grant Sir Qi and other music industry executives.
Business tycoons, from Apple CEO Tim Cook to Nike’s Phil Knight, are also drawn to Madison, where membership fees It is said Up to $500,000 with an annual HOA fee of $20,000.
Asher has built and sold a number of properties in the Madison Club, including a $21 million mansion purchased two months ago by Todd Pedersen, co-founder of Utah-based Vivint smart home and security company.
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The Los Angeles developer has also built some of the city’s most luxurious mansions, including a $61 million estate that just sold to Jennifer Lopez and Ben Affleck, and a 2016 estate that sold to Detroit Pistons owner Tom Gores. Holmby Hills $100 million estate.
Chaifetz and his wife Jill also own apartments in Chicago’s Trump Tower, a $34 million waterfront estate in Florida, and an apartment in New York City 15 Central Park West building, and their main residence in a cliffside mansion in suburban Chicago.
— Dana Bartholomew
