Los Angeles records highest property exchange, sales mansion at $120 Million

The 56,000-square-foot estate was built for Aaron Spelling, now sold by heiress Petra Ecclestone

Bonaventure Melah

An opulent Los Angeles estate, fittingly dubbed The Manor, has sold in a record-breaking transaction, according to Mansion Global.

Going through the report, Daily Times found that the colossal 56,000-square-foot mansion—slightly larger than the White House—changed hands for $120 million in an all-cash deal.

With its $120 million sale price, the property takes the mantle of most-expensive home ever sold in Los Angeles County, eclipsing last year’s $110 million transaction of Hard Rock Cafe co-founder Peter Morton’s Malibu estate, according to listing records.

The French chateau-style home in the affluent Holmby Hills neighborhood was built in 1991 for late TV producer Aaron Spelling—behind “Charlie’s Angels” and “Beverly Hills, 90210”—and his wife, Candy.

It comes complete with myriad lavish amenities, including a bowling alley, a wine cellar, a beauty salon, sculptural gardens and a motor court with space for 100 cars, according to the listing.

The listing was held by Kurt Rappaport of Westside Estate Agency, who declined to comment; Jade Mills with Coldwell Banker, who didn’t immediately respond to a request for comment; and David Parnes and James Harris of The Agency who declined to comment.

Jeff Hyland of Hilton and Hyland represented the buyer. He declined to comment.

Bidding farewell to the property is Formula One heiress Petra Ecclestone, who paid $85 million for the home in 2011, records with PropertyShark show.

Ms. Ecclestone, 30, the daughter of billionaire Bernie Ecclestone, first started shopping the 14-bedroom home around in 2016, listing it for $200 million.

But in 2018, the price was cut to $175 million, and in May, it was brought down again to $160 million, listing records show.