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America’s Most Expensive Home Hits the Market

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A Californian mansion with a history of hosting Hollywood royalty and presidents, has hit the market for US$225 million (A$327m), making it the most expensive public real estate listing in America’s history.

Once the home of hotelier and Hilton founder Conrad Hilton, the 60-bedroom Bel-Air home, known as Casa Encantada, is being sold by current owners financier and philanthropist Gary and Karen Winnick.

It was also a record breaker in 2000 when the couple purchased the estate for US$94million (A$137m), the most ever paid for a home at the time.

The 40,000-sq-foot house sprawls across an eight acre site in Bel-Air, ten minutes from 90210's Beverly Hills in Los Angeles.

▲ Bel-Air's Casa Encantada.
▲ Bel-Air's Casa Encantada.

If these walls could talk

Designed by architect James E. Dolena, amid the heyday of old Hollywood, the home was built in 1938.

Hilton purchased the property for $225,000 in 1950, with the Bel-Air estate since hosting presidents and Hollywood royalty.

Furnishings and interior designs were by T. H. Robsjohn-Gibbings, the property has been referred to as “the designer’s most important residential commission”.

Beverly Hills-based real estate Hilton and Hyland listed the mansion last week.

It features an entry hall featuring 18-foot (5.4 metre) ceilings, and a reception hall, along with a professional screening room, tennis and basketball courts, a pool house, and greenhouses.

To date the most expensive home to sell in the United States was the former Aaron Spelling home in Holby Hills, which transacted for US$120 million (A$175 m). The property sold for much lower than its original $200 million listing price.

In Australia’s luxury real estate market, a three-storey penthouse in Sydney’s Barangaroo took the crown as the nation's most expensive home, last week selling to an anonymous local buyer for $140 million.

It nabbed the title from the Fairwater Mansion in Sydney's Point Piper, which sold for $100 million to Atlassian co-founder Mike Cannon-Brookes and his wife Annie Cannon-Brookes last year.

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Article originally posted at: https://theurbandeveloper.com/articles/most-expensive-home-in-us-hits-market