• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

This ambassador’s Bel Air estate sold for half its asking price

Carla Sands and her former Bel Air home (Credit: U.S. Embassy in Denmark)
Carla Sands and the Bel Air home (Credit: U.S. Embassy in Denmark)

The slowing Los Angeles luxury market has claimed another victim.

U.S. Ambassador to Denmark Carla Sands sold her Bel Air estate for $19.5 million, or just over $1,300 per square foot. That’s a near 50 percent price chop from its original ask in March, according to the Los Angeles Times.

Sands, an executive at Vintage Capital Group and a major contributor to President Trump’s 2016 campaign, had listed the property at $37 million, or just over $2,500 per square foot.

The buyer was not identified. Jeff Hyland of Hilton & Hyland and Joyce Rey of Coldwell Banker had the listing. Drew Fenton of Hilton & Hyland represented the buyer.

Sands and her late husband, Fred — a real estate investor — built the 14,700-square-foot Italian Villa in 2002. The four-acre compound on Moraga Drive has four bedrooms, nine bathrooms, a library, walk-in bar, swimming pool and two guest houses. It also includes A 10-car motor court.

Those amenities were not enough to persuade buyers to bite at the original asking price. That has been the case with numerous upscale homes in L.A. over the last year, whose sellers have been forced to chop their original asking price significantly to close the deal. It includes a range of luxury homes, from $6 million to $10 million properties to the ones in the stratosphere.

One recent example of an ultra-luxury listing that sold at a sharp price chop was spec builder Ardie Tavangarian’s 25,000-square-foot Bel Air mansion. It sold for $75 million, chopped from its $88 million asking price. Another was Petra Ecclestone’s Spelling Manor, also in Bel Air. It sold for a record $120 million in July, a price that was still down 40 percent from its $200 million asking. [LAT] — Matthew Blake 

The post This ambassador’s Bel Air estate sold for half its asking price appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 23 October 2019
  • The Real Deal
  • Uncategorized
  •  Like
Lightstone leads $8M funding round for appraisal startup Bowery Valuation →← Gimme squatter: When iBuying homes draw unwanted attention
  • Recent Posts

    • Hoteliers sound the alarm on looming distress  May 24, 2025
    • Growth markets see retail boom even with tariff uncertainty May 24, 2025
    • Westchester resi project gets city OK after union drops objection May 23, 2025
    • WATCH: ‘Father of CMBS’ Ethan Penner to run for governor of California May 23, 2025
    • Fashion Island office fetches $756 psf May 23, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM