The most expensive house in Los Angeles is back on the market, this time for an incredible $195 million.
The sprawling Bel-Air palace known as Casa Encantada was listed this month, just five months after it was last listed for sale at the same price, according to Zillow.
It was once the most expensive home ever marketed in the United States when financier and philanthropist Gary Winnick put it on the market for $225 million last summer.
“To me, this is a work of art and I have been its steward,” said Winnick, 76. The Wall Street Journal of the 40,000-square-foot property.
The H-shaped layout of the seven-bedroom home provides perfect views for all 60 rooms, each showcasing city, ocean or garden views.
However, California real estate agents are struggling to sell the property and the price has dropped from $250 million in 2019 to $195 million today, tying it as the most expensive home in the city with the Pritzker estate.
The 60-story California home, which was once listed for $225 million in 2019, sits on about 8.5 acres and spans about 40,000 square feet.
The difficulties were exacerbated by the so-called “mansion tax”, which was introduced in April 2023.
The tax imposed an additional 5.5 percent tax on homes sold for more than $10 million, in an effort to recoup money for homeless projects.
But one year after the Measure ULA strategy was introduced, luxury home sales have fallen 68 percent, while they have only increased 22 percent of the established goal.
Casa Encantada, which sits on eight acres above the Bel-Air Country Club, is now being watched by three super agents who hope to close the commission.
Kurt Rappaport of Westside Estate Agency, Drew Fenton of Carolwood Estates and Josh Flagg of Compass hope to sell the mega-property, according to the hollywood reporter.
“Casa Encantada is one of the most iconic houses in Los Angeles due to its architectural significance, designed by James Dolena in 1937, and its Georgian-style elegance,” Flagg told the magazine.
‘The mansion has hosted high-profile events and been owned by notable figures such as Conrad Hilton, enhancing its cultural and social legacy.
“Its sheer size, opulence and prime location in Bel-Air, combined with its historical significance, make it one of the most sought-after and expensive properties in the city.”
“It’s always a pleasure to show Haunted House because every time you see something new that you’ve never noticed before,” Flagg added.
The famous Haunted House in Bel-Air, California, is for sale
The house includes a reception room, a parlor, and a wood-paneled study and office, where a portrait of George Washington commissioned by Benjamin Franklin hangs (pictured)
The sprawling Bel-Air palace known as Casa Encantada was listed this month, just five months after it last sold for the same price, according to Zillow.
‘My favorite feature of the house is the motor court.
“As you enter the gates of the estate, you travel down a long winding drive to a motor court with an exquisite fountain highlighted by magnificent bronze sculptures.”
Winnick set the record at the time, when he bought the home for $94 million in 2000 from Dole Food Company CEO David Murdock.
The palace has also been home to the likes of iconic hotelier Conrad Hilton before Murdock. He sold it for $12.4 million in 1980, a record at the time.
Winnick hired a team of 250 workers who took two years to restore Casa Encantada to museum quality during his residency. Master craftsmen hand-plastered the floors and ceiling.
Casa Encantada dates back to the 1930s, built under the direction of the widow of a wealthy glass manufacturer who commissioned some of the most prominent designers of the time to work on the estate.
In 1950, hotel magnate Conrad Hilton moved into the palatial premises. He paid $225,000, which included furniture, art and silver. During his thirty years at Casa Encantada, Hilton made almost no changes to the interior or exterior.
After his death in 1979, Rupert Murdoch purchased it for $12.4 million, an American record at the time.
Gary Winnick set the record at the time, when he bought the house for $94 million (Pictured: Winnick with his wife Karen at Party in the Garden at MoMA in New York on May 31, 2018).
Casa Encantada with its 60 rooms, pool, tennis and basketball courts has the highest price in US history.
It has all the details of a large property, including an entrance hall with 18ft ceilings that expands into the luxurious reception hall, dining room and living spaces.
The wood-paneled walls and trim are adorned with delicate geometric and shell patterns.
The second floor is accented with terrace balconies.
There’s a pool house with a professional screening room and formal bar, basketball court, lighted tennis court, a full guest house, multiple greenhouses and Koi ponds, Fortune.com states.