The last two times that Bel Air’s massive Casa Encantada sold — in 1979 and 2000 — it broke the record for highest residential sale in the nation. Now, the storied estate is on the market again, looking to set another mark.
The 40,000-square-foot Georgian-style mansion hit the market for $225 million, according to the Los Angeles Times. That’s $105 million more than the Los Angeles County record set when the 56,500-square-foot Spelling Manor sold this summer.
It’s also the highest asking price for any residential property in the country.
The listing from owner and financier Gary Winnick comes amid a slowdown in sales at the high end of L.A.’s residential market. Interest seems especially low for the crop of sleek and modern spec homes that have hit the market over the last several years.
Hilton & Hyland founder Jeff Hyland, who is representing Winnick, told the Times that Casa Encantada’s history and unique attributes “allow for premium pricing.” Reports surfaced in early 2013 that the estate — which means haunted house in Spanish — was being quietly shopped for the same amount.
“It’s not affected by market gyrations, world issues in the economy and other comparable estates,” he said.
That may be optimistic. The Spelling Manor was on the market for three years and sold for 40 percent below its original $200 million asking price. The equally grand Chartwell Estate, also in Bel Air, was asking $350 million before the price was eventually dropped to $195 million in June.
The 60-room Casa Encantada was built in the 1930s at the direction of the widow of a wealthy glass manufacturer who commissioned some of the most prominent designers of the time to work on the estate.
Architect James Dolena incorporated Art Deco and Moderne styles into the ornate interiors. The eight-acre grounds have a tennis court, basketball court, a rose garden and greenhouses, among other facilities.
Winnick hired architect Peter Marino to lead a comprehensive restoration of the property after purchasing it for $94 million from Dole Food Company CEO David Murdock in 2000. Murdock purchased it from Conrad Hilton for $12.4 million in 1979. [LAT] — Dennis Lynch