LA’s most expensive home is back on the market – this time for an eye-watering $195 million.
The sprawling Bel-Air Palace, known as Casa Encantada, was listed this month, just five months after it was last listed for sale at the same price, according to Zillow.
It was once the most expensive home ever on the market in the United States when financier and philanthropist Gary Winnick put it on the market last summer for $225 million.
“To me, this is a work of art and I have been its steward,” Winnick, 76, said The Wall Street Journal of the 40,000 square meter site.
The H-shaped design of the seven-bedroom house provides perfect views for all 60 rooms, with each room offering city, ocean or garden views.
However, real estate agents in California are struggling to sell the estate and the price has been reduced from $250 million in 2019 to $195 million today. the Pritzker estate.
The 60-room California home, which was once on the market for $225 million in 2019, sits on approximately 8.5 acres and spans approximately 40,000 square feet.
The problems were further exacerbated by the so-called ‘mansion tax’ introduced in April 2023.
The tax imposed an additional 5.5 percent tax on homes sold for more than $10 million, in an effort to recoup money for homelessness projects.
But one year after the introduction of the Measure ULA strategy, luxury home sales have fallen by 68 percent, while meeting the target by only 22 percent.
Casa Encantada, which sits eight acres above the Bel-Air country club, is now being watched by three super agents hoping to win the job.
Kurt Rappaport of Westside Estate Agency, Drew Fenton of Carolwood Estates and Josh Flagg of Compass hope to sell the mega-estate, the newspaper said. Hollywood reporter.
“Casa Encantada is one of the most iconic homes in Los Angeles for its architectural significance, designed by James Dolena in 1937, and its Georgian-style elegance,” Flagg told the magazine.
‘The mansion has hosted high-profile events and been owned by notable figures such as Conrad Hilton, enhancing its cultural and social legacy.
“Its sheer size, opulence and prime location in Bel-Air, combined with its historic importance, make it one of the most sought-after and expensive estates in the city.”
“It’s always a pleasure to show Casa Encantada because every time you see something new that you’ve never noticed before,” Flagg added.
The famous Casa Encantada in Bel-Air, California is on the market
The house features a reception room, a lounge and a wood-paneled study and office, where a portrait of George Washington hangs, commissioned by Benjamin Franklin (pictured)
The sprawling Bel-Air palace known as Casa Encantada was listed this month, just five months after it was last for sale at the same price, according to Zillow
‘My favorite feature of the house is the motor court.
‘As you drive through the gates of the estate, you walk down a long winding driveway to a motor court with an exquisite fountain accented by beautiful bronze sculptures.’
Winnick set the record at the time when he bought the house in 2000 for $94 million from David Murdock, CEO of Dole Food Company.
Before Murdock, the palace was also home to iconic hotelier Conrad Hilton, among others. He sold it in 1980 for $12.4 million, a record at the time.
Winnick hired a team of 250 workers who spent two years restoring Casa Encantada to museum quality during his residency. Master craftsmen hand-plastered the floors and ceiling.
Dating back to the 1930s, Casa Encantada was commissioned by the widow of a wealthy glass manufacturer who commissioned some of the most prominent designers of the time to work on the estate.
In 1950, hotel magnate Conrad Hilton moved to the palatial excavations. He paid $225,000, including furnishings, art and silver. During his thirty years at Casa Encantada, Hilton changed virtually nothing to the interior or exterior.
After his death in 1979, it was purchased by Rupert Murdoch for $12.4 million, an American record at the time.
Gary Winnick set the record at the time when he bought the house for $94 million (photo: Winnick with his wife Karen at Party in the Garden at MoMA in New York on May 31, 2018)
Casa Encantada has the highest price tag in American history with its 60 rooms, swimming pool, tennis and basketball courts
It has all the features of a large estate, including an entrance hall with 5 meter high ceilings that extends to the luxurious reception hall, dining room and living areas.
The wood paneling and moldings are embellished with delicate clamshell and geometric patterns.
The second floor is accented with balcony terraces.
There is a pool house with a professional screening room and formal bar, a basketball court, a lighted tennis court, a full guest house, multiple greenhouses and koi ponds, according to Fortune.com.