Listed with a price tag of $200 million, the “Spelling Mansion,” built in 1988 by late TV producer Aaron Spelling, could take the title of the most expensive sale in the history of Los Angeles real estate from the Playboy Mansion.
Otherwise known as “The Manor,” the 56,000-square-foot French chateau-style compound, currently listed by Hilton & Hyland, sits on approximately five acres in Holmby Hills. It is noted in the listing as the largest private residence in Los Angeles.
“It’s 100 percent worth it,” says Ben Bacal of Rodeo Realty.
Two hundred million is certainly a hefty amount, but industry experts at The Real Deal say the sale of the mansion at that price would be a price-per-square-foot bargain for whichever billionaire can afford it. For roughly $3,500 per square foot, it would be worth every penny, compared with the Playboy Mansion, which sold to Daren Metropoulos over the summer for $105 million, or $5,250 per square foot. That’s nearly half of its original listing price of $200 million.
This is the first time The Manor, which was designed by James Langenheim & Associates, has been on the market since 2011, when seller, British heiress Petra Ecclestone Stunt, purchased it for $85 million. When she did, the 123-room mansion, with 14 bedrooms and 27 bathrooms, underwent an approximately $30 million renovation, with the installation of a two-lane bowling alley, nightclub, wine cellar, gym, beauty salon, and 100-car parking space, among many other additions.
The monumental estate may be worth the asking price, but will it sell?
“It’s a reasonable ask, but I don’t think they’ll get it,” says Michael Nourmand of Nourmand & Associates. “I think they’ll get something in the $150 million to $170 million range.”
Images Courtesy of Hilton & Hyland