Developer Bruce Makowsky's Bel Air spec mansion is the 3rd highest sale of the year and a much needed shot in the arm to LA's luxury real estate market.
LOS ANGELES (PRWEB) November 05, 2019
The most talked about home listing of the decade, 924 Bel Air Road built by world-famous developer Bruce Makowsky, has officially sold for $94 million. Mr. Makowsky's breathtaking "land yacht" took the world by storm when it hit the market in 2017. The 38,000-square-foot, four-story design features 12 bedrooms, 21 bathrooms, a helipad, and an 85-foot swimming pool. The home's ultimate $94 million price tag makes it one of the largest sales in Los Angeles history and the third largest sale of 2019. The closing was a well received shot in the arm to the sluggish LA real estate market. Unphased by the market, Branden and Rayni Williams of Williams & Williams Estates Group surpassed $500 million in sales in 2019, solidifying them as the top agent team in America.
"Once again I am so pleased to have closed another record deal on one of my properties," says Makowsky, a major luxury real estate developer who is known for curating, designing, and bringing to life some of the most stunning homes in the country. "My goal is to build the most innovative and exciting homes in the United States. I am so fortunate to work with such a talented team of people who share my passion for flawless execution."
Though the buyer is undisclosed, they saw interest from tech experts, foreign investors, and other high net worth individuals. "We revisited the pricing at the top of the year in January 2019 to reflect pricing in the current market," Rayni says of the price, which dropped from $250 million to $150 million (not including the cars or artwork). "It was a very different market in 2017 and a very different type of buyer." While the house was originally listed with $30 million of luxury vehicles, Makowsky ultimately decided he didn't want to part with the supercars so he took them out of the deal.
About Williams & Williams Estates Group: Williams & Williams Estates Group is the leading real estate firm in Los Angeles, with over $1 billion worth of property sold in Trousdale alone. Recognized as L.A.'s highest-performing real estate team based on their impressive sales record of over $500 million in sales for 2019, the husband-and-wife real estate duo specialize in historic properties in Trousdale, Beverly Hills, Los Feliz, and beyond. Their passion to preserve and protect Los Angeles' most iconic homes is mirrored in their representation of properties by great architects like Paul R. Williams and Frank Lloyd Wright. In 2019 they broke the record of the highest price Frank Lloyd Wright property ever sold by closing The Ennis house for $18M. They represent some of the most expensive listings in the world and will be the listing agents for the $500 million spec house The One in Bel Air when it comes to market. Branden and Rayni bring an invaluable mix of passion and professionalism to every project.
For the original version on PRWeb visit: https://www.prweb.com/releases/bruce_makowsky_s_mansion_sells_for_94m_solidifying_williams_and_williams_in_real_estate_history/prweb16694465.htm
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.