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Listed at $250M, Bel Air behemoth sells for $94M

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It was once America’s priciest listing

The spec mansion was developed by Bruce Makowsky.
Via 924 Bel Air Road

What does $94 million in Los Angeles real estate buy? Twenty-one bathrooms, 12 bedrooms, an infinity pool, a wall of candy dispensers, elevators lined with crocodile skin, a James Bond-themed theater, a four-lane bowling alley, and a helipad.

Those were some of the amenities advertised in a spec mansion that hit the market in 2017 with a headline-grabbing $250 million price tag. Citing sources with knowledge of the transaction, the Wall Street Journal reports today that the Bel Air property has sold for $156 million less.

Dubbed Billionaire, the blocky 38,000-square-foot home was developed in the hills above Sunset Boulevard by handbag designer Bruce Makowsky, who also built a spec house that Minecraft creator Markus Persson purchased in 2014 for $70 million.

On the property’s website, Makowsky says he came up with the idea to build luxury estates after “spending lots of time on mega yachts and large private jets” that cost more than houses. “I set up my real estate development company in Beverly Hills, California, to cater to the super affluent that demand the very best in life!!!” he writes.

When it came up for sale three years ago, Billionaire was the most expensive home listing in the U.S. While it sold for a commanding price, other LA mansions have sold for more.

In July, the 123-room Holmby Hills mansion known as The Manor sold for $120 million. The Playboy Mansion and a spec house purchased by Detroit Pistons owner Tom Gores each sold for $100 million.