Bigger than the White House: UK developer unveils triple giga-mansion scheme in Bel Air | PrimeResi
29/06/2016, 14:31
Bigger than the White House: UK developer unveils triple gigamansion scheme in Bel Air
primeresi.com/bigger-than-the-white-house-uk-developer-unveils-triple-giga-mansion-scheme-in-bel-air/65007/
Domvs London and Junius Real Estate Partners have announced the first stage of their major US play, a trio of
LA giga-mansions guaranteed to blow your socks off.
Since snapping up a prime 11-acre site (below) – the biggest swathe of land to come up in the famed “Platinum
Triangle” for some time – the JV has been putting together a masterplan for three grand estates, promising no
less than “the finest living experience in the world”.
It looks like they were just in time too. Final permits were secured for The Park Bel Air just before the adoption
of new City of Los Angeles restrictions on oversized resi schemes. As such, these could well be the last of
the giga-mansions.
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Bigger than the White House: UK developer unveils triple giga-mansion scheme in Bel Air | PrimeResi
29/06/2016, 14:31
Weighing in at between 56,000 and 61,000 square feet, the three behemoths will eclipse both Spelling Manor
and the White House in terms of size, whilst lording it over spectacular Pacific Ocean, city and canyon views
(below). One estate will have an 11,000 square foot car park and even the dressing rooms will hit 3,000 square
feet. Other features include vast wine cellars, infinity pools and secret tunnels linking up the principal and
guest residences.
We’re told prices are likely to start at $115m, although where they end up at will very much depend on the
spec…
Kurt Rappaport, Co-founder and Owner, Westside Estate Agency: “Estates of this calibre in Los Angeles
rarely come to market, let alone a collection of three in old Bel Air presented as thoughtfully as The Park Bel Air.
Demand for properties at this end of the market, both domestic and off-shore, continues to outstrip supply. No
one should be surprised to see the trend for prime property sales above $50 million in the Platinum Triangle
continue. The Park Bel Air is a landmark development on one of the most ultra-prime pieces of real estate in
Los Angeles. We are thrilled to be working on such an exciting collection of properties that are like no other.”
Jon O’Brien, Founder and CEO, Domvs London: “We’re
providing ultra-high net worth buyers with a bespoke lifestyle
choice in which every aspect of their estate can be thoughtfully
curated. When compared to other ultra prime property markets
such as New York, London or Monaco, properties of this quality,
specification and demonstrable value are surprisingly rare at the
highest end of the Los Angeles residential market.”
The appetite for ultra-prime certainly seems to be there. Five
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Bigger than the White House: UK developer unveils triple giga-mansion scheme in Bel Air | PrimeResi
29/06/2016, 14:31
years ago, only 4 or 5 property in the Platinum Triangle (Bel Air, Beverly Hills, and Holmby Hills) sold for over
$20m. In 2014, 30 did, while another 15 breached $30m, and 8 went for over $40m. A few have even topped
the $70m mark on the down-low recently.
Domvs London’s development team is led by designer-to-the-stars Gavin Brodin; Junius Real Estate Partners
is a division of JP Morgan Private Bank. The Park Bel Air marks Domvs’ first foray into the US market, after the
firm revealed plans for a major international expansion at the end of last year.
TheParkBelAir.com
Images: Domvs London
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