A nearly vacant lot in Bel-Air owned by Riot Games cofounder Brandon Beck has sold for $37.3 million.
The co-chair of the West Los Angeles-based video game company sold the partially developed lot to Ardie Tavangarian, a developer for luxury spec homes, according to dirt.
The off-market deal includes 3.2 acres in lower Bel-Air, considered one of the most coveted development sites in Los Angeles.
Beck, a 39-year-old Beverly Hills native, is worth an estimated $200 million. His Riot Games, creator of the “League of Legends” gaming empire, was acquired in 2011 by Chinese gaming giant Tencent.
He bought the near-vacant property in early 2017 for $35.5 million, and has since spent up to $1.7 million on property taxes, not including associated real estate fees.
The double lot at 671 Siena Way was once the site of two mansions purchased for $56 million by billionaire Tom Gores. He razed both homes to build his own estate before changing his mind about the site.
The graded property now has an underground structure and a 15-car garage, according to dated site listings.
Realtor.com dubbed it “the best estate development site available in Bel Air or Beverly Hills … with explosive city and ocean views. All graded and ready for the creation of a new trophy estate that will be one of the finest estates in the world.”
Tavangarian is among L.A. ‘s top developers.
In a career that has spanned four decades, the founder of West Los Angeles-based Arya Group has built dozens of ultra high-end projects, including residential homes, public works and resorts.
Last year, he sold a mansion he’d built in Pacific Palisades for $83 million to Luminar Chief Executive Austin Russell. He also bought Elizabeth Taylor’s midcentury Bel-Air estate for $11 million, presumably as a site for a redevelopment project.
In 2020, he bought four Bel-Air homes from Tesla and SpaceX CEO Elon Musk in a combined deal estimated at $62.5 million.
In 2019, he sold a 25,000-square-foot home in Bel-Air for $75 million to a buyer from China.
[Dirt] – Dana Bartholomew
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