US’s Most Expensive Home on sale at $250 million (₹1703 crore)

The most expensive home ever listed in the United States has just hit the market in Bel Air, Los Angeles at a whopping $250 million (₹ 1703 Crore).

  • There are only 1,800 people in the world who could reasonably afford to buy 924 Bel Air Road
  • The 38,000 sq ft home has 12 bedrooms, 21 bathrooms, 3 kitchens, 130 works of art and a $30 million car collection, a piece of helicopter artwork and a $200,000 wall of candy
  • QVC handbag tycoon Bruce Makowsky developed the home, inspired by his own glamorous lifestyle
  • The Bel Air property has a bowling alley, 40 seater movie theater and a pool with its own swim-up bar
  • Collection of cars, including 1930s roadsters and 21st century supercars, worth $30million
  • Makowsky has also factored in the costs of 7 live-in employees who will work at the property full-time
  • The developer never lived inside the property – his only intention was to flip it and sell it on

The new mansion that developer Bruce Makowsky is selling for $250 million comes with 150 pieces of original artwork, $30 million worth of classic cars, a dozen high-performance motorcycles, and a deactivated helicopter. But in a saturated spec-home market that gives the super-rich some super-sized options, even the appearance of getting bang for one’s many bucks is a selling point.

The Bel Air mansion offers 38,000 feet of interior space, including 12 bedrooms, 21 baths, a 40-seat home theater, and a four-lane bowling alley. That works out to more than $6,500 per square foot. By comparison, one lavish Los Angeles spec house changed hands last year for $100 million, or about $3,300 per square foot.

Makowsky came to this business via fashion and cable television. He spent three decades designing women’s shoes and handbags along with his wife, Kathy Van Zeeland, hawking them on TV infomercials. In 2008, the couple sold the business to Hong Kong-based Li & Fung for a reported $330 million, and Makowsky started plowing his money into Los Angeles spec homes. His biggest hit so far: a 22,300-square-foot Beverly Hills mansion he sold for $70 million to Markus Persson, creator of the video game Minecraft.

In 2014, developer Jeff Greene listed a 25-acre Beverly Hills estate with 53,000 square feet of living space for $195 million. In 2015, movie producer Nile Niami said he had broken ground on a 74,000-square-foot mansion, equipped with “almost every amenity available in the world,” with a plan to sell it for $500 million. And last year, houses were listed for more than $100 million in California, Florida, New York, and Nevada—part of a super-luxury market defined by sellers boldly asking for sums that would have seemed outrageous a few years earlier.

At such levels, a listing price doesn’t always give an accurate estimate of the price a property will actually command. Hugh Hefner sold his infamous Playboy mansion in Holmby Hills. Calif., last year for $100 million—half what he’d originally listed it for. And the house Makowsky sold to Persson was originally listed for $85 million.

The super-wealthy, he argued, are spending hundreds of millions of dollars on yachts and aircraft, which they might use for only a few weeks a year. “And yet these super-wealthy people are living in $20 or $30 million homes,” he added. “It’s because no one has built homes for billionaires.”

 

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