A 70,000-square-foot Bel-Air estate has hit the market for $400 million, potentially shattering the U.S. residential sales record. The current record is $238 million, set in 2019 by Citadel billionaire Ken Griffin's purchase of a New York penthouse. The California record, set in 2024, is $210 million for a Malibu mansion sold by Oakley founder James Jannard.
This Bel-Air compound, owned by Qatar's ruling Al-Thani family, was purchased as an empty lot for $35 million in 2010. Over nearly a decade, the family invested an estimated $350 million to $430 million into developing the property. Completed in 2018, the estate features 39 bedrooms and 59 bathrooms across multiple Mediterranean-style structures on a nearly 8-acre lot. Listing agents Jack Harris and Michael Fahimian believe the investment in the property justifies the ambitious price tag.
The Al-Thanis are selling the property because they don't use it as much as expected, despite it being a part of their vast international asset collection. The estate includes a 23-bedroom main house, a 16-bedroom guesthouse, a movie theater, a wellness facility with an indoor pool and hammam, a tennis court, and multiple outdoor swimming pools. Due to its location in Los Angeles, a $400 million sale would incur a Measure ULA "mansion tax" of $23.8 million.
The property is situated on a promontory overlooking the Bel-Air Country Club, offering views from downtown Los Angeles to the Pacific Ocean and Catalina Island. While the $400 million asking price is aspirational, the listing agents have reportedly received interest from serious buyers. Previous attempts at ultra-high-priced sales in Southern California have varied, with some falling short of their initial targets, such as a 157-acre property that sold for $100,000 after an ownership battle, and a 105,000-square-foot spec house that sold for $141 million after being marketed for $500 million.
