Parts of the home were never permitted—and the courts have ordered that some of it must come down.
The "shark house" features an open tank filled with stingrays and sharks.
Neighbors say they live "in constant fear of the hillside collapsing."
"We had runway models serving champagne and artisan sushi... To be shut down... was frustrating."
Featuring a long list of amenities that includes a bowling alley, a wall of candy dispensers, and decorative helicopter, this megamansion could break records if it sells anywhere close to asking price.
The SEC has ordered the firm to freeze its assets and halt business operations.
Neighbors spotted new electrical fixtures and woodwork in the mansion, which had its permits revoked years ago.
The homes are in a prime location for courting spec developers.
Hadid—the father of models Gigi and Bella Hadid and a veteran developer of massive spec homes—got in trouble a couple of years ago for building code violations.
This would be the third time the couple has tried to buy a home in Los Angeles.
The never-occupied home is being marketed to spec developers as a teardown. Asking price: $15.9 million.
The property includes an 11,000-square-foot main house, a two-bedroom guest house, and an infinity pool, but it’s still under construction.
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A developer paid $3 million for the land, then built this extravagant house with a 60-foot limestone pool and luxe bathrooms.
The latest from prolific spec developer Nile Niami
It hasn't been built even a little yet, but once it's done, this Bel Air residence is "expected to fetch a sales price of more than $100 million." It'll come with a glass elevator, elaborate spa, and a master suite the size of a regular house.