[imagesource: Hilton & Hyland]

Gigi Hadid’s real estate developing father, Mohamed Hadid, is behind the construction of the largest home ever permitted in Los Angeles County.

The one of a kind, still in construction, Beverly Hills compound went on sale Tuesday, with an asking price of $250 million, which is roughly R3,7 billion.

If it gets sold at that price, property records show that it could then be the most expensive residential property ever sold in California.

That would beat the “Beverly Hillbillies Estate” in Bel-Air that Lachlan Murdoch bought in 2019 for $150 million, per The Los Angeles Times.

Image: Hilton & Hyland

Image: Hilton & Hyland

Image: Hilton & Hyland

There’s a lot of superlatives for just this one house, but Hilton & Hyland real estate agent Rodrigo Iglesias is sure that the asking price reflects how “there is nothing like it, and there will never be anything like it.”

Forbes has more:

Iglesias, who is listing the 38-acre trophy property, says the quarter-billion-dollar price is for the completed compound, which is permitted for nearly 80 000 square feet [7432 square metres] of total living space and expected to be completed in under 24 months.

According to Iglesias, the high price reflects not only the size and scale of the property but also the cost to build an estate that would be impossible to replicate.

Iglesia knows what he is talking about as a luxury real estate specialist who had a hand in some of the first sales ever transacted in nearby Beverly Park.

But, he says, there is no comparison with Hadid’s development, which “beats the crap out of all of Beverly Park”.

Upon completion, the compound will include a private street built to connect the hilltop property to an access point at the end of a private cul-de-sac.

On the left, the guest house will take up 2 415 square metres of the property, while on the top of the hill, the main house will extend over 4 830 square metres.

Image: Hilton & Hyland

The plans also include indoor and outdoor swimming pools, multiple car galleries, a bowling lane, a theatre, and spa facilities, making this a “unique enclave” that will “encompass the epitome of luxury living, location, views and privacy”.

And those are all features that buyers at this level will pay a premium for, no doubt.

[source:forbes]