Le Belvedere sells for $56 Million
May 25, 2018 - Bel Air
Le Belvedere, a lavish Los Angeles mansion once owned by real-estate developer Mohamed Hadid, has sold for $56 million, according to multiple people familiar with the deal.
The property first came on the market in December 2016 for $85 million but was most recently listed for $72 million. The seller is State Management and Development, according to public records.
The opulent estate was bought by a limited liability company linked to Max Fowles-Pazdro, a private equity investor and lifestyle entrepreneur, according to the Wall Street Journal.
The 10-bedroom, château-style home sits on a 2.2-acre lot in Bel-Air and measures more than 35,000 square feet.
It has a ballroom with seating for more than 200, a Turkish hammam, a Moroccan-themed room for entertaining and a screening room decorated with elaborate murals. The grounds include a 70-foot infinity pool, fountains, a pond and an outdoor pizza oven.
Joyce Rey and Stacy Gottula of Coldwell Banker Residential Brokerage held the listing. Stephen Resnick and Jonathan Nash of Hilton & Hyland, along with David Parnes and James Harris of the Agency, represented the buyer.
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