If bought for its asking price, the home would become the most expensive home ever sold in California.
- A 40,000-square-foot Bel-Air estate, known as Casa Encantada, has hit the market with an asking price of $US225 million, making it the most expensive property currently listed for sale in America, according to The Los Angeles Times.
- The estate traces its roots back to the 1930s and was once owned by hotel magnate Conrad Hilton.
- The property was later sold to Dole Food CEO and Chairman David Murdock for $US12.5 million; Murdock then sold the home to financier David Winnick in 2000 for $US94 million.
- At each of the last two times it was on the market, Casa Encantada was the highest-priced residential property in the US, reports the Times – and if bought for its current asking price, the home will bypass the Spelling Manor to become the most expensive home ever sold in California.
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Bel-Air estate Casa Encantada might soon become the most expensive home ever sold in California, reports the Los Angeles Times.
The 40,000-square-foot property has hit the market with an asking price of $US225 million – making it the highest-priced home currently on the market anywhere in the country, per the Times.
Currently owned by financier Gary Winnick, the estate traces its roots back to the 1930s, when it was built for the widow of a glass bottle manufacturer. Since then, it has had many owners. In 1950, it was purchased by hotel magnate Conrad Hilton for $US250,000 (or about $US2.4 million today), then sold in 1979 to billionaire David Murdock, the chairman and CEO of Dole Foods, for $US12.4 million, the Times reports.
In 2000, Winnick bought the home from Murdock for a reported $US94 million and soon led a project to restore the property to its former glory.
While a PR representative for the estate told Business Insider that interior photos of the property in its current state aren’t being released, you can keep reading for a look back at the home’s original 1930s glory and to learn more about its history.
Located in Bel-Air, the estate (called Casa Encantada or “House of Enchantment”) is nearly 40,000 square feet. According to Los Angeles Magazine, the land was initially bought in 1934 for $US100,000 by Hilda Boldt Weber, the widow of a glass manufacturer. Weber then commissioned architect James Dolena to build her the massive estate.
Courtesy of Hilton HylandExterior of the home.
Dolena was considered a “master” of Georgian architecture, taking influence and inspiration from the Art Deco movement as well as Moderne styles, according to the Los Angeles Times.
Source:Washington Post, Los Angeles Times, Los Angeles Magazine
The interior was designed by Peterson Studios and TH Robsjon-Gibbions, who created custom furniture and fabrics for the home, the Los Angeles Times reports. It was finished in 1937, costing over $US2 million – or about $US35 million today.
The Huntington LibraryExterior of the home circa 1939.
Source: Los Angeles Times, Los Angeles Magazine
Weber was a nurse who married a Midwestern glass bottle manufacturer after nursing him back to health. The death of her husband left her very wealthy, and she spared no expense in building this massive estate.
The Huntington LibraryExterior of the home circa 1939.
Source:Washington Post, Curbed LA
Though she always aspired to join high society, historians say she was never truly accepted by her Bel-Air peers and instead spent much of her time gambling away her fortune.
The Huntington LibraryInterior of the home circa 1939.
Source:Curbed LA, Los Angeles Times
As time went on, the lavish property she had built became too much for her to handle. Weber eventually died by suicide after offloading the home, according to “Unreal Estate” by Michael Gross, a book about the histories behind the biggest mansions in Los Angeles.
The Huntington LibraryExterior of the home circa 1939.
Source:Curbed LA, Los Angeles Times
The Washington Post reports that Weber sold the property in 1949 for $US225,000 (or about $US2.4 million today) to Conrad Hilton, who, at the time, was still building his now-ubiquitous hotel empire. He owned the home for 30 years, until his 1979 death.
The Huntington LibraryHilton made few changes to the property, keeping, for the most part, everything intact, the Los Angeles Times reports.
Source:Washington Post, Los Angeles Times, Los Angeles Magazine
The Hilton family then sold the property to billionaire Dole Foods CEO and Chairman, David Murdock, for $US12.4 million. At the time, the deal was a record for the US market.
The Huntington LibraryInterior of the home circa 1939.
Source: Los Angeles Times, Los Angeles Magazine
In 2000, Murdock sold the home to financier Gary Winnick for a reported $US94 million — another record-breaker. Winnick then commissioned architect Peter Marino to help restore the property. The project took nearly two years (and millions of dollars) to complete.
The Huntington LibraryInterior of the home circa 1939.
Winnick is best known as the founder and chairman of Global Crossing, the company which installed fibre-optic highways across the ocean floor, thereby connecting four continents and 27 countries, according to the Times.
Source: Los Angeles Times, Los Angeles Magazine, The Real Deal
Though the listing agents will not be publicly releasing interior shots of the home in its current condition, the Los Angeles Times reports that Winnick has restored the estate’s classic detailing.
The Huntington LibraryInterior of the home circa 1939.
According to the Times, the house has wood-paneled walls in addition to moldings embellished with geometric patterns. The property also features wrought ironwork and terrace balconies.
Source: Los Angeles Times, Los Angeles Magazine
The property has a guest house, a pool house, and a managers quarters. There is also a basketball court, a tennis court, greenhouses, a rose garden, and koi ponds.
The Huntington LibraryExterior of the home circa 1939.
In addition, the entrance has 18-foot ceilings and a bar made of sterling silver.
Source: Los Angeles Times, Los Angeles Magazine
Per the Los Angeles Times, mountain and ocean views can be seen from nearly all of the the mansion’s 60-rooms, some of which include a professional screening room, a reception hall, and grand formal rooms.
The Huntington LibraryInterior of the home circa 1939.
Source: Los Angeles Times, Los Angeles Magazine
If sold for the current asking price, Casa Encantada will bypass the Spelling manor in Holmby Hills— which recently sold for $US119.75 million — to become the highest priced home ever sold in California, according to Fortune Magazine.
Courtesy of Hilton HylandExterior of the home today.
Source: Fortune
Dominic-Madori Davis
