Los Angeles developer Ardie Tavangarian is known for selling over-the-top homes. Last year, a house he built in the Bel-Air area sold to a Chinese buyer for $75 million.

But his latest creation, a megamansion with two safe rooms and a retractable roof for stargazing, isn’t listed for sale.

Instead, the Pacific Palisades house is hitting the market as a rental asking $350,000 a month.

As the real-estate industry scrambles amid the coronavirus pandemic, Mr. Tavangarian said he decided to rent rather than sell the amenity-laden home to capitalize on increased demand for luxury homes from renters, especially those coming from hard-hit cities such as New York and San Francisco.

Perched atop a promontory overlooking the Santa Monica Mountains and the ocean, the house sits on roughly an acre of land next door to a mansion owned by Tom Hanks.

The six-bedroom house has a fully stocked wine cellar, spa and movie theater. A large garage doubles as an events venue, with a car turntable that can be transformed into a dance floor.

The master suite, accessed via a retinal scanner, has a custom-designed roof that retracts to reveal the sky, either entirely open or through glass. It can also be used as a projection screen to watch movies in bed, Mr. Tavangarian said.

"You feel like you are sleeping outside," he said. "It’s like a campfire environment right in your own home."

The house is fully furnished with pieces Mr. Tavangarian said he hand-selected, including a Damien Hirst painting.

Outside, the property has an infinity pool with a Jacuzzi, custom cabanas, a "sauna pod" designed to frame the mountain views, and an outdoor dining area surrounded by olive trees.

Source: WSJ - Katherine Clarke