The Park Bel Air, an 11-acre development under construction in Bel-Air, will have three homes that range in size from 56,000 sq ft to 61,000 sq ft, with asking prices starting at $115m and rising to $150m. A short distance away, a four-acre home under construction called “The One” will go on sale later this year with a reported asking price of $500m, according to its developer, Nile Niami. Its over-the-top amenities include a 5,000 sq ft master bedroom and five pools.
“Bel-Air has always had a reputation for wealth, but now it’s becoming a bit more global with international buyers shopping here,” says Alexander Ali, chief executive of The Society Group, a Los Angeles marketing agency with a string of high-profile sales under its belt. “These are buyers who traditionally shopped for properties in places like New York and London, but they are now showing up in Bel-Air.”
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