Daily Real Estate News | Tuesday, July 29, 2014
The Spelling Manor, which made headlines a few years ago for being the priciest home on the market in the nation at the time, reportedly is up for sale again — but this time, it’s a pocket listing, Forbes reports. After acquiring the estate in the Holmby Hills section of Los Angeles in 2011, Petra Ecclestone, the daughter of Formula One billionaire Bernie Ecclestone, reportedly is looking to sell the Spelling Manor for $150 million.
It’s believed to be the most expensive off-market listing in California and possibly the U.S., Forbes reports.
She purchased the 56,500-square-foot property for $85 million from Candy Spelling, the widow of well-known Hollywood producer Aaron Spelling. Ecclestone apparently hired some 500 workers for a $20 million remodel of the property, and she is hoping to gross $65 million in profit after owning the home for three years, Forbes reports.
The home is reportedly being shown to real estate agents, sources told Forbes. If Ecclestone is able to get her asking price of $150 million, she will have set a new record for the most expensive home ever sold in the U.S.
The current record is from a Hamptons estate sold earlier this year for $147 million. Candy Spelling had originally tried to get $150 million for the Spelling Estate before settling on Ecclestone’s offer of $65 million less.
Source: “Billionaire Heiress Petra Ecclestone Shopping Spelling Manor for $150 Million,” Forbes.com (July 28, 2014)