Introduction to Mohamed Hadid’s Failed Mansion
The remnants of Mohamed Hadid’s stalled-out megamansion could be yours. The demolished concrete remains of Hadid’s $50 million Los Angeles residence are being sold in a sealed-bid auction, the Real Deal reported. The no-reserve sale has a starting bid of $7.9 million and lasts until July 16.
Background of the Mansion
The former dwelling earned the nickname “Starship Enterprise” from alarmed neighbors, who feared the pad’s gargantuan size and uncertain foundations would lead to a cliffside disaster for the entire neighborhood.
Hadid’s would-be home sold at auction in 2021 after he was ordered to tear it down. Anadolu via Getty Images
A judge previously ordered the under-construction home to be torn down amid safety concerns. MEGA
Sahara Construction completely demolished the property. MEGA
Current Status of the Property
Compass’s Tracy Tutor and Premiere Estates Auction Company’s Todd Wohl hold the listing. The unfortunate eyesore currently belongs to Paul Ventura’s Sahara Construction, which purchased the property at auction for $5 million in 2021. Attempts to sell the Bel-Air property since then have failed to bear fruit. Sahara Construction has carefully demolished the partially built structure down to its concrete foundations, the Real Deal reported, citing a court-ordered engineering report that declared the site now safe for a 15,000-square-foot home.
History of the Mansion
Hadid previously tried to build a home twice that size, and was taken to court over his efforts. Hadid, pictured with his famous daughters, Gigi and Bella, in 2016. Dimitrios Kambouris
Hadid planned to build a 30,000-square-foot structure on the hilltop site. AP
“If this house came down the hill it would take a portion of the neighborhood with it,” said Los Angeles Judge Craig Karlan in his 2019 ruling for Hadid to demolish the illegally built hillside home.
The Demolition and Auction
Hadid, a real estate developer and father to Bella and Gigi Hadid, began construction on the planned megamansion in 2014. The tycoon fought the city of Los Angeles for several years to build the estate. Hadid’s company 901 Strada LLC filed for bankruptcy when he was ordered to tear down the structure. Sahara Construction listed the property for sale in the fall of 2023 for $18 million, The Real Deal reported, but the listing was removed last year.
“The demolition took a tremendous amount of money,” Premiere Estates Auction Company’s Todd Wohl told the outlet. “From the court’s standpoint, the legal issues and development issues are cured. There’s a flat pad now. This would survive a major earthquake.”
Conclusion
The sale of Mohamed Hadid’s failed mansion is a significant event in the world of real estate. The property’s history is marked by controversy and legal issues, but it now presents an opportunity for a new owner to build a safe and luxurious home. With a starting bid of $7.9 million, the auction is expected to attract interested buyers who are looking to own a piece of prime Los Angeles real estate.
FAQs
Q: What is the starting bid for the auction of Mohamed Hadid’s failed mansion?
A: The starting bid for the auction is $7.9 million.
Q: Who currently owns the property?
A: The property is currently owned by Paul Ventura’s Sahara Construction.
Q: What was the original size of the planned megamansion?
A: The original planned size of the megamansion was 30,000 square feet.
Q: Why was the property demolished?
A: The property was demolished due to safety concerns and legal issues.
Q: Who holds the listing for the property?
A: Compass’s Tracy Tutor and Premiere Estates Auction Company’s Todd Wohl hold the listing.
