The Manor Is Back on the Market: Can It Really Fetch $165M?

  • Realtor®
  • 02/15/22
Original article published by Realtor®
Written by Claudine Zap
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It’s ba-ack.
 
The Los Angeles megamansion known as The Manor seeks a buyer—again. It’s on the market for an eye-popping $165 million.
 
It had previously sold in 2019 for $119.75 million, a record at the time. Just over two years later, the 56,500-square-foot property on 4.6 acres seeks a new billionaire buyer.
 
We checked with a couple of luxury specialists for their takes on the listing. But first, let’s take a peek at the history of the enormous home.
 

Home Sweet Enormous Home

Built in the late 1980s by the late TV impresario Aaron Spelling and his wife, Candy Spelling, the chateau-style mansion, dubbed Spelling Manor, was reported to be the largest private home in the state at the time.
 
Located on almost 5 acres in the Holmby Hills neighborhood, and bordering the Los Angeles Country Club, the spread is also close to the shopping and dining of Beverly Hills.
 
Completed in 1990, the enormous estate has room for all kinds of bespoke amenities, such as a gift-wrapping room, a library, a professional screening room, massive walk-in closets, a bowling alley, and a beauty salon.
 
 
After Aaron Spelling’s death, Candy Spelling placed the home on the market for a whopping $150 million. She eventually sold it for $85 million in 2011 to Petra Ecclestone, daughter of the Formula 1 mogul Bernie Ecclestone.
 
The heiress renovated the space to her liking and spent plenty of dough in the process. Post-renovation, the mansion featured 30-foot ceilings, double staircases, a gym, night club, wine cellar and tasting room, and room to park 100 cars.
 

New Price Tag

Ecclestone then put the lavish estate on the market in 2016, with an astronomical asking price of $200 million.
 
The price was cut to $160 million in 2019 before she accepted the nearly $120 million offer that year. At the time, the sale was a record in Los Angeles County, although it’s since been eclipsed by a number of pricey sales well beyond that amount.
 
The deep-pocketed buyer was reportedly an anonymous Saudi Arabian who purchased the place “sight unseen,” Dirt reported. And now that mysterious owner has decided to test the market with a 37% price spike. But will the gamble pay off?
 

No Surprise in the Hot SoCal Market

“Nothing surprises me anymore when it comes to price,” says Myra Nourmand, principal and agent at Nourmand & Associates. “We’re in a crazy hot market right now and every property is selling for more than it’s ever sold before. In my book, 2.5 years between sales is not too soon.”
 
Nourmand told us it will take time for the mansion to sell yet again, a cycle of history repeating itself.
 
“The property won’t sell right away,” she says. “It’s going to take some time to find that special buyer, and it may even find an international buyer. Needless to say, The Manor is a very special property, with iconic history.”
 
There isn’t a huge selection of $100 million-plus listings available for billionaire buyers.
 
“There are only six properties officially listed through the MLS in the Los Angeles area for sale in the $100 million-plus range,” says Cara Ameer, a bi-coastal agent with Coldwell Banker licensed in California and Florida. “Given the current market climate, the timing is right for The Manor to come on the market at the $165 million asking price. Inventory for trophy properties of this caliber is thin.”
 
Ameer seconded the notion that the market for high-end homes is currently ablaze.
 
“The uber-luxury real estate market has been fueling sales on this level all across the country,” she says. “And there’s certainly an incredible amount of wealth circulating among those who could afford to buy this home. The question is will they?”
 
Only time will tell. It could take another three years, but The Manor has proven to be a wise place to park excess cash over the past decade.
 
As Ameer put it, “For a buyer looking for the ultimate private compound, with every amenity imaginable, The Manor provides exactly that.”
 

Sumptuous Showpiece

It’s unclear what changes—if any—have been made to the mansion over the last two years.
 
As for the layout, the interiors boast 14 bedrooms and 27 bathrooms. The Old World look of the exterior is contrasted with a modern palette of white, black, and gray, along with glitzy chandeliers, heavy drapery, built-ins, and rows of French doors.
 
Clad in limestone, the three floors lack nothing a billionaire buyer could be searching for (aside from modernism). Along with a perk-packed layout, the extensive grounds feature rolling lawns, rose gardens, a pool, a spa, and a tennis court.
 
In short, the listing notes, it’s an opportunity to acquire “one of the finest estates in the world.”
 
Jeff Hyland and Drew Fenton, both with Hilton & Hyland, hold the listing.
 
 
The Manor Is Back on the Market: Can It Really Fetch $165M?

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