Bel-Air mansion sells for $50 million; first listed at $85 million

Hadid-Estate-1.jpg This is the 48,000-square-foot home that developer Mohamed Hadid has been trying to unload since early 2009. The place has 11 bedrooms, 14 bathrooms, 19 fireplaces, a 5,000-bottle wine cellar, a Turkish hammam, a swan pond and a 70-foot long infinity pool. It's so big that it requires a staff of about 15. Buyer is listed as Sarp Turanligil, owner of a Turkey-based yacht and furniture production company, but there could be more to the story. From WSJ:

A representative for Mr. Turanligil says he never owned the home, but was managing some business for a company that bought the home and is no longer affiliated with the property. The home has changed titles twice since it was purchased in June, to two different limited-liability corporations, according to public records.

The Journal has another huge real estate deal: The Malibu estate of the late Nancy Daly, ex-wife of former Mayor Richard Riordan, has sold for more than $40 million. It was first listed for $57 million. The buyer, listed as a Delaware limited-liability company, plans to lease the 13,000-square-foot mansion. The home, with 180 feet of beach frontage, has eight bedrooms and nine fireplaces.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook