If you thought Portland metro area housing prices were sky high, consider this: A new mega mansion in the celebrity-filled Bel-Air neighborhood of Los Angeles is the most expensive home listed in the United States.
The asking price: $250 million.
That’s $6,579 a square foot (Portland’s median list per square foot is $234, according to the real estate database Redfin).
And at 38,000 square feet, it’s not even as large as the Los Angeles chateau where Sellwood resident Randy Spelling grew up. The 123-room Spelling manor had 56,500 square feet and another 16,000 square feet of attic space. It sold int 2011 for $85 million.
The extreme real estate project in Bel-Air was conceived by developer and QVC handbag tycoon Bruce Makowsky. The four-level mansion, built on spec (without a buyer), includes 12 bedroom suites, 21 bathrooms, five bars, three gourmet kitchens, a spa and an 85-foot infinity swimming pool with views of Los Angeles and the mountains.
There’s also a 40-seat movie theater, a bowling alley and a fleet of exotic and vintage cars worth $30 million.
Don’t worry about keeping the place clean. Seven full-time staffers come with the house, according to marketing materials for 924 Bel Air Road.
Makowksy said only 3,000 people in the world could afford to buy his spec home.
Not that there would be typical transaction requiring a mortgage, but in theory: With 20 percent down — $50 million — and a 30-year-fixed interest of 3.99 percent, the cost for principal, interest, property taxes and homeowner’s insurance is estimated to be $1.25 million a month.
The Associated Press recently interviewed Makowksy inside the mansion. Here’s what he had to say about why he built it and who would spend $250 million on a house.
Q: Why did you build this house?
A: “After being on major mega yachts across the world and on beautiful private aircraft, it didn’t make sense to me people were spending $350 million on a boat, $100 million on a plane and they’re living in $20 million and $30 million homes … The homes have not kept up with the toys. So my feeling is if you’re going to spend over 12 hours a day in your home it should be the most amazing experience in the world.”
Q: What is it like being inside the house?
A: “I would say it’s the eighth wonder of the world. I’ve had a couple people come in here and say it’s in the top seven — one of the other seven could go away … Every single inch of this house is breathtaking. It’s a sensory overload. I’ve shown this house about 25 times now. People go in and use just about every adjective on half of the lower level. There’s no more adjectives. They just become numb. Every single thing in this house makes you feel like you’re in heaven.”
Q: How did you reach $250 million for the listing price?
A: “The reason it’s $250 million is because of all the work for the past four years of having 300 people inside here, the art curations inside the house. We have over $30 million worth of cars, exotic sports cars and vintage cars … We have a 270-degree view from the snow-covered mountains all the way down to L.A. Seven full-time staff come with the house, which is crazy. So if you want the best chef in the world, you have her, and if you want a masseuse we have you all hooked up … We have water features that go completely around the house. We have stones from 50 different quarries from around the world, the most beautiful precious stones running through the house … I truly believe the value is here.”
Q: Why would someone spend so much money on a house, even with all these amenities?
A: “It’s the kind of thing where I can’t sell it. Somebody has to fall in love with it and die over it. And when a person sitting with $2 billion, $5 billion or $20 billion in the bank and it’s just a number, do they really want to enjoy every second of their life — because this isn’t rehearsal, this is real life — or do they just want to look at a number in the bank?”
–The Associated Press and Homes & Gardens of the Northwest staff
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