Real Estate Industry News

Yesterday the news was of Michael Jackson’s Neverland Ranch finally selling for $22 million, all the way down from its original $100 million price tag. Today there’s another $80 million price drop to report, this time in the Bel Air neighborhood of Los Angeles. This 34,000-square foot home, built as a flip house by plastic surgeon Raj Kanodia, listed two years ago for $180 million. Kanodia called in famed architect Paul Mcclean to design the glassy contemporary and even imported exotic plants from his native India to enhance the landscape. Not only does the home have all the usual criteria for a property in this tier—home spa, private screening theater, three kitchens and a gym—but Kanodia also had a clinic built on the lower level that can be fitted out for a medical team to work from home.

There was avid interest from local media when the home went on the market, but no serious buyers made it all the way through the purchase. Eventually the owner tried taking it off the market and listing it as a rental for $1.5 million per month, saying at the time it was most likely the most expensive rental in the country. But now he has put this nine-bed, 20-bath house back on the market with an ask of $99 million, along with a new team of listing agents (the Rayni and Branden Williams team at Hilton & Hyland).

A handful of interior photos have been released to give you an idea of how sprawling an estate this is. Here’s a tour:

Signature Paul Mcclean style includes these expansive terraces that flow seamlessly from the indoors to the outdoors. Below is a view from the other side of the pool to show how recessed the indoor portion is as a way to escape the hot sun without having to be fully inside.

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You can also see how the placement of the pillars acts as a frame for the landscape just beyond the built terrace.

A bedroom has the same accessible style as the large living room but also comes with a gas fireplace in the dividing wall. It provides a subtle design accent while still allowing the vastness of the outdoors to be the central focus of the room.

The same in-wall fireplace motif shows up in a more intimate living room. In this view you can also see one of the outdoor contemporary sculptures through the window.

Here’s a look at the house from the back with the terraced landscaping that comes with the 1.17-acre property.

For more information, head to the listing page with Hilton & Hyland.