Yet another spec palace in Bel Air has joined the $100 million dollar club, then taken off the market and rented for over $300,000/month.
Developer Donald Bolin of Bolin Development is now building another one next door.
Bolin's sister, Arline, who works under broker Hootan Troy Farahmand has the listing.
The property at 10979 Chalon Road has 12 bedrooms and 16 bathrooms with an additional 40,000 square feet of covered patio space. Completed this year, it has five bars, a two-lane bowling alley, a theater, a wine cellar, a commercial-grade elevator and an outdoor infinity pool with a waterfall and spa. There is also an outdoor putting green with a 50-foot fire feature.
While the estate comes with a 14-car garage, the motor court is fit for a party. It can house 70 cars, according to the listing.
Bolin purchased the site in 2012 for a mere $1.2 million, according to property records.
The home is a five-minute walk from the site where Tom Barrack is building a 77,000-square-foot mansion that is said to be attached to the Al Thani royal family of Qatar. It also joins a handful of other Bel Air spec mansions listed for sky-high prices, including Bruce Makowsky's $250 million mansion, Nile Niami's $100 million property on Hillcrest Road and Niami's yet-to-be-listed $500 million mansion, which is under construction.
While Bolin says he has built more than 65 homes throughout Los Angeles County, the $100 million property on Chalon Road is the highest priced listing he's developed.
"It [was] a lot of work," he said. "It turned out real nice but it took up so much of my life."
Bolin told The Real Deal the five-year project will likely be his last mega-home, joking that another spec manse development would probably end his marriage.
-- Wall Street Journal
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