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Bel Air's Casa Encantada Might be Quietly Asking $225M

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According to the well-connected Real Estalker, financier Gary Winnick is quietly shopping around his 7.5-acre private xanadu in Bel Air for an ungodly $225M. With many high-dollar transactions going down over the past year, including the $117M sale of an nine-acre spread near Silicon Valley, Winnick seems to be ready to test the ultra-high end market with a near-comical asking price. Of course, he paid a pretty penny for Casa Encantada in 2000, when he paid Dole Fruit billionaire David Murdock around $94M in a combined cash and land deal. (Yes, Murdock is the same guy who recently sold Larry Ellison the Hawaiian of Lanai for $500M.) The storied Georgian mansion was built in the late 1930s by wealthy widow Hilda Bolt for the then unheard-of cost of $2.1M. Bolt ended up selling to famed hotelier Conrad Hilton in 1950 for just $225K. Few in 1950 would have imagined that in just 63 years, the estate would be asking 1,000 times more than Hilton paid. If Winnick achieves his whisper price, the Casa Encantada would easily set the record as the most expensive private residence in U.S. history.
· Your Mama Hears... [The Real Estalker]
· Did Nine Acres of Silicon Valley Really Sell for $117.5M? [Curbed National]
· Larry Ellison Scoops Up 98 Percent of a Hawaiian Island [Curbed National]