News, Culture & Society

Los Angeles megamansion is sold to a Chinese buyer for $75 MILLION

A megamansion in Los Angeles has been sold to a Chinese national for $75 million, marking one of the biggest residential real estate deals in the city’s history.  

The 25,000 square foot home was originally listed last November for $88 million, before the seller slashed the asking price. 

Located in the swanky neighborhood of Bel-Air, the property had only just been completed by Ardie Tavangarian, a high-powered owner of construction firm Arya Group. 

Tavangarian built the superstructure for his family, but decided to sell up after costs blew out and the project became ‘ever more elaborate and expensive’, The Wall Street Journal reports.  

A megamansion in Los Angeles has been sold to a Chinese national for $75 million, marking one of the biggest residential real estate deals in the city’s history

The home is set in leafy Bel-Air - enclave that has long been home to the rich and famous

The home is set in leafy Bel-Air – enclave that has long been home to the rich and famous

Paying no mind to the mid-century aesthetic of his neighbors, developer Ardie Tavangarian created a contemporary dwelling with a flat roof and floor-to-ceiling windows

Paying no mind to the mid-century aesthetic of his neighbors, developer Ardie Tavangarian created a contemporary dwelling with a flat roof and floor-to-ceiling windows

The stunning residence more closely resembles a shopping mall than it does an average family home, and is complete with eight bedrooms, a cinema, a spa room and an infinity pool.  

The modern structure stands out among other more classical-looking mansions in Bel-Air – a leafy enclave that has long been home to the rich and famous. 

Paying no mind to the mid-century aesthetic of his neighbors, Tavangarian created the dwelling with a flat roof and floor-to-ceiling windows. 

The design choice helps maximize the sweeping views of downtown Los Angeles, as well as aid in the home’s open and airy feel.  

The stunning residence more closely resembles a shopping mall than it does an average family home

The stunning residence more closely resembles a shopping mall than it does an average family home

The 25,000 square foot home was originally listed last November for $88 million, before the seller slashed the asking price

The 25,000 square foot home was originally listed last November for $88 million, before the seller slashed the asking price

Floor-to-ceiling windows help maximize the sweeping views of downtown Los Angeles, as well as aid in the home's open and airy feel

Floor-to-ceiling windows help maximize the sweeping views of downtown Los Angeles, as well as aid in the home’s open and airy feel

The property boasts a number of lavish features, such as a spa room complete with an small indoor plunge pool

The property boasts a number of lavish features, such as a spa room complete with an small indoor plunge pool

The property boasts a number of lavish features, such as a spa room complete with an small indoor plunge pool. 

The room also includes a fire place, a flat screen television and chairs set up ready for a pedicure. 

Elsewhere, a massive cinema room has been created with space for more than a dozen viewers to kick back and watch a film.  

There is also ‘a state-of-the-art car elevator that allows the owner to stack cars vertically’, The Wall Street Journal reports. 

In addition to the 25,000 square feet of interior space, the are more than 20,000 feet of outdoor balconies and patios. 

A massive cinema room has been created with space for more than a dozen viewers to kick back and watch a film

A massive cinema room has been created with space for more than a dozen viewers to kick back and watch a film

The home is complete with eight bedrooms, a cinema, a spa room and a gym

The home is complete with eight bedrooms, a cinema, a spa room and a gym

The sale of the superstructure comes just weeks after the biggest residential real estate sale in L.A. history.  

Earlier this month, the former estate of TV mogul Aaron Spelling sold for a whopping $120 million. 

That home is the priciest property in the Los Angeles area, and boasts bowling alley and three ‘present wrapping rooms’. 

According to The Wall Street Journal the sale of the two lavish properties within the same month has helped ‘bolster sentiment about the city’s struggling ultra-luxury real estate market’. 

According to The Wall Street Journal, the sale has helped 'bolster sentiment about the city's struggling ultra-luxury real estate market'

According to The Wall Street Journal, the sale has helped ‘bolster sentiment about the city’s struggling ultra-luxury real estate market’

There is also 'a state-of-the-art car elevator that allows the owner to stack cars vertically'

There is also ‘a state-of-the-art car elevator that allows the owner to stack cars vertically’

The home was only recently completed by famed developer Ardie Tavangarian

The home was only recently completed by famed developer Ardie Tavangarian

Read more at DailyMail.co.uk



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