$50 Million Mansion Sells in Los Angeles | 630 Nimes Road, Bel Air

The Wall Street Hournal reports that "Le Belvedere", "a Los Angeles mansion that originally listed for $85 Million has sold for $50 million".

I blogged about this property in April of this year, commenting on how the priced had been reduced from $85 Million to $72 Million.

What I found astounding was the annual property taxes on such a property would be well in excess of $1 Million.

"The home, which was owned by real-estate developer Mohamed Hadid, first listed for $85 million in 2009 but most recently asked $72 million. Public records list the buyer as Sarp Turanligil, owner of a Turkey-based yacht and furniture production company. A representative for Mr. Turanligil says he never owned the home, but was managing some business for a company that bought the home and is no longer affiliated with the property. The home has changed titles twice since it was purchased in June, to two different limited-liability companies, according to public records".

Le Belvedere was listed by Stacy Gottula and Joyce Rey of Coldwell Banker Previews.