Indonesian Agrees to Buy Bel-Air Mansion for $50 Million

May 14, 2010 - California

An Indonesian buyer is in contract to buy a 48,000-square-foot mansion in Los Angeles' Bel-Air neighborhood for around $50 million.

If the deal closes, it would set what brokers believe to be a new record for the biggest residential real-estate sale in the U.S. to date this year.

The previous record is thought to be set by Texas energy executive Kelcy Warren's $46.5 million buy in Colorado in April.

The 10-bedroom, 14-bathroom mansion, most recently listed for $72 million and originally listed for $85 million, sits on 2.2 acres.

It has a ballroom seating more than 200, a music room and a 20-car motor court. There's a pond for swans, seven fountains, a Turkish hammam and a columned movie theater with a mural on the ceiling.

The seller is Los Angeles developer Mohamed Hadid, who constructed Ritz-Carlton hotels in the 1980s and now builds massive homes in L.A., Mexico and elsewhere.

Mr. Hadid has said he spent $59 million to build the home for his own use.

The buyer's identity could not be learned. Joyce Rey and Stacy Gottula of Coldwell Banker Previews International have the listing.

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