A museum-like contemporary mansion asking a hair under $50 million in the endlessly affluent Los Angeles neighborhood of Beverly Hills has just emerged on the market.
Spanning more than 13,400 square feet, the custom-designed “masterpiece” is a “rare offering,” according to the listing with Victoria Risko of Sotheby’s International Realty, who brought the home to the market on Monday. She was not immediately available to comment.
The property is being sold by hedge funder Mitchell Julis, co-founder of Canyon Capital Partners—a $24 billion hedge fund, which after decades in Los Angeles is reportedly relocating to Dallas.
Mr. Julis, 66, acquired the property in 2009 using an eponymous trust of which he and his wife are trustees—though it’s not clear how much they paid. They went on to build this megamansion from the ground up, a process that concluded in 2012, according to the listing.
A request for comment sent to a representative at Canyon Capital was not immediately returned.
Hidden and private behind an imposing gate and high hedges, the six-bedroom home’s interiors feature soaring ceilings, voluminous spaces and vast swaths of white wallspace—currently utilized for displaying large art, listing images show.
There’s also a gourmet kitchen with a walk-in pantry and a breakfast area, a great room that can double as a theater, two offices, and a primary bedroom suite with two bathrooms and closet space.
The home sits on 1.4 acres, which house a host of outdoor amenities, including a pool and spa, a tennis court, a motor court and a guest house. Plus there are lawns, a grove of Gingko trees, fruit trees, a huge 2,200-square-foot vegetable garden, a tea house and a zen garden, the listing said.
The rarefied U.S. market for homes priced at $50 million or more—a price segment that this home is just $100,000 shy of—is having a banner year, with sales and listings already on pace to outnumber 2020 and the years preceding it, Mansion Global previously reported.
The surge at the very top end is being propelled by increased wealth, a renewed focus on and appreciation of what home is and a lack of other spending options over the past year, experts said.
Article Source: Mansion Global