realestate

Bel-Air Mansion Bargain: $100M Price Drop!

Mystery Buyer Secures Deal on Bel-Air Spec Mansion for $26 Million The Bel-Air spec mansion at 10979 Chalon Road was once listed for $100 million but was eventually sold for $26 million to a mystery buyer. Developer Don Bolin, who built the property, was

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recently sold Bel-Air mansion, previously listed for $100 million, was purchased for $26 million. The property spans over 30,000 square feet and is located at 10979 Chalon Road. The seller of the property was Don Bolin, who developed the estate. The buyer was an entity called Edud Investments LLC, which is based in Corona, California. This entity is linked to Kionna Tiffith and a property in Studio City at 4215-4225 North Coldwater Canyon Avenue, according to an application submitted to Los Angeles City Planning for a zone change and construction of a three-story commercial building last year.

    Arline Bolin of The Turtlestone Group previously held the listing for the property. It is unclear if any agents were involved in the transaction. When contacted for comment, Arline Bolin did not respond.

    The Chalon Road mansion boasts several amenities such as multiple bar spaces, a theater, wine cellar, putting green, parking space for 60 cars, sport court, and infinity pool, as per marketing materials when it was relisted for $65 million last year.

    The property first hit the market with a $100 million price tag in 2017. Over the last seven years, it has been on and off the market multiple times, each time with a reduced price. Don Bolin purchased the site for $1.2 million in 2012, according to property records, and spent the next five years building the property. In an interview with The Real Deal when the property first hit the market, Don Bolin stated, "It [was] a lot of work. It turned out real nice, but it took up so much of my life."

Bel-Air mansion with significant price drop, reduced from $100 million.