A mystery buyer has landed a deal on a Bel-Air spec mansion that was, at one time, asking $100 million.
The more than 30,000-square-foot mansion at 10979 Chalon Road ended up selling for $26 million.
Developer Don Bolin, who built the property, was the seller. The buyer was a Corona, Calif.-based entity called Edud Investments LLC, according to property records.
It has ties to Kionna Tiffith and a Studio City property at 4215-4225 North Coldwater Canyon Avenue, according to an application submitted to Los Angeles City Planning last year for a zone change and construction of a three-story commercial building. Plans indicated the new building would include multiple office spaces, a conference room, lounge and studio.
Bolin’s sister Arline Bolin at The Turtlestone Group last held the listing for the property. It’s unclear what agents, if any, were involved in the transaction. Arline Bolin did not respond to requests for comment.
The Chalon Road mansion includes multiple bar spaces, a theater, wine cellar, putting green, enough parking for 60 cars, sport court and infinity pool, per marketing materials for the property when it was relisted for $65 million last year.
The spec mansion turned heads when it hit the market with a $100 million price tag in 2017. Over the last seven years, it alternated on and off the market, each time with a reduced price.
Don Bolin paid $1.2 million for the site in 2012, according to property records, and then spent the next five years building the property.
“It [was] a lot of work,” he told The Real Deal when the property first hit the market. “It turned out real nice, but it took up so much of my life.”
Read more
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The post Buyer bags bargain on Bel-Air mansion originally listed at $100M appeared first on The Real Deal.
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