L.A. Mansion Sells for $50 Million

[SB10001424052748704696304575538470163146774] A Los Angeles mansion that originally listed for $85 million has sold for $50 million. It's believed to be one of the highest-priced residential real-estate sales in the U.S. so far this year.

The home, which was owned by real-estate developer Mohamed Hadid, first listed for $85 million in 2009 but most recently asked $72 million. Public records list the buyer as Sarp Turanligil, owner of a Turkey-based yacht and furniture production company. 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 48,000-square-foot home, known as Le Belvedere, has 11 bedrooms and 14 bathrooms as well as a ballroom that can seat 250. The home has 19 fireplaces, a 5,000-bottle wine cellar, a Turkish hammam, a swan pond and a 70-foot long infinity pool. The estate, on 2.2 acres in Los Angeles's Bel Air neighborhood, requires a staff of about 15, says Mr. Hadid. "It has to be managed like a hotel," he says.

Written by WSJ Candace Jackson and Juliet Chung

Ikem Chukumerije represents Buyers and Sellers in all luxury real estate communities including Beverly Hills, Marina Del Rey, Malibu, Los Angeles, Bel Air, Santa Monica, Westwood, Brentwood, Venice, hollywood Hills, West Hollywood, Pacific Palisades, and Manhattan Beach. Contact Ikem at 323-350-8297 about buying or selling real estate in these areas.

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