Douglas Elliman Introduces the $150 Million Park Bel Air to the Ultra-Prime Los Angeles Market
BEVERLY HILLS, Calif., Jan. 30, 2019 /PRNewswire/ — Douglas Elliman Real Estate announces today the launch of The Park Bel Air, a once-in-a-lifetime opportunity to own one of the most valuable pieces of residential real estate ever offered in the United States, presented by ultra-prime developer DOMVS London and Junius Real Estate Partners, a real estate investment division of J.P. Morgan Private Bank. Offered at $150 million, the property pairs a location of unrivaled prominence in the heart of lower Bel Air across approximately 10.6 contiguous acres with majestic city, canyon and ocean views. This exclusive offering is presented by top producing Douglas Elliman agents Connie Blankenship in Los Angeles and Noble Black in New York who will serve as marketing consultant. The Park Bel Air is being brought to market in conjunction with London-based Daniel Daggers of Knight Frank, Douglas Elliman’s international partner.
“The arrival of The Park Bel Air to the ultra-prime Bel Air real estate market is a truly singular opportunity, not only to acquire one of the most prominent pieces of real estate in the world, but to create a legacy compound that is poised to become the most exceptional estate, not only in Los Angeles, but in the United States,” said Connie Blankenship.
With its entrance opposite legendary Hotel Bel-Air and extraordinary sense of arrival up a dramatic, tree-lined drive, this remarkable offering includes approved plans and permits allowing up to 180,000 buildable square feet across three estate lots with elevated views across West Los Angeles, the Pacific Ocean, Catalina Island and beyond.
“From titans of media and finance to foreign heads of state, no neighborhood is more synonymous with luxurious seclusion than Bel Air. We are thrilled to present an extraordinary opportunity for the most discerning of buyers to obtain what is truly the premier estate in the most coveted and exclusive location in the world,” said Noble Black.
20 years in the making and with final plans and permits secured prior to the adoption of new City of Los Angeles restrictions for large scale development, this last of its kind estate allows for immediate construction commencement of up to three, 60,000 square foot residences, as well as scaled down alternatives within the approved envelope.
“No other property provides the opportunity to capture location, views, privacy, scale, security and optionality at the highest end of the Los Angeles residential market like The Park Bel Air,” said Barry Watts, President, DOMVS London.
The Park Bel Air is steeped in history and is an extraordinary legacy purchase in the most private and sought after location in Los Angeles. Buyers have the ultimate flexibility to break ground immediately on fully designed and approved estate residences, build a customized compound maximizing the grandfathered permits, construct a scaled down alternative on an expedited basis, or preserve portions of the land for future generations.
About Douglas Elliman Real Estate
Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the third largest residential real estate company nationwide. With more than 7,000 agents, the company operates approximately 113 offices in New York City, Long Island, The Hamptons, Westchester, Connecticut, New Jersey, Florida, California, Colorado and Massachusetts. Moreover, Douglas Elliman has a strategic global alliance with London-based Knight Frank Residential for business in the worldwide luxury markets spanning 60 countries and six continents. The company also controls a portfolio of real estate services including Douglas Elliman Development Marketing, Douglas Elliman Property Management and Douglas Elliman Commercial. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, please visit elliman.com.
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SOURCE Douglas Elliman Real Estate