The 1108 Wallace Ridge mansion in Beverly Hills, California is 18,000 square feet and is on two levels.
Mark Angeles
It took six years to build this $ 65 million mega-home on a ridge in Los Angeles.
In 2014, a dated mansion stood on the half-acre property at 1108 Wallace Ridge. It was on the market with an asking price of $ 18 million. Like many of the potential buyers who saw the Beverly Hills listing, developer Michael Chen loved the site but saw no value in the 6,300-square-foot home on the property.
“It was demolition,” said Chen.
Even so, it attracted the developer and his investor. The property is located in the exclusive Trousdale Estates section of zip code 90210 – an area Chen wagered on would see a dramatic increase in value. So Chen and his partner pulled the trigger and bought the property for $ 15 million. They paid nearly $ 2,400 per square foot for a four bedroom house they wanted to level.
Floor-to-ceiling windows in the great room disappear into the wall to reveal the “front-row” view of the residence on Century City.
Mark Angeles
“The main decision to purchase this property was that it would be a front row view property with one of the few daylight basements in Trousdale,” said Chen.
The entertainment and pool area is located in the sun-drenched basement of the residence.
Mark Angeles
The opportunity to rebuild with a sun-drenched basement is important, Chen said, as this part of Beverly Hills has a strict 14-foot height limit.
While he could not build beyond the height restriction, he said, it was clear that he would build under the ground. And since the site is on an elevated ridge overlooking Century City, the basement could have a wall of windows and sweeping views of the skyline. In other words, the new basement wouldn’t look or feel like a basement at all.
The pool is on the lower level of the house, which is partially underground.
Mark Angeles
Building a much larger lower level could add valuable square footage – and millions of dollars – in value to the new residence.
The aim of the redesign was to maximize the view, the square footage and the attractiveness of the new house.
A stone walkway extends over a water feature and leads to the entrance area of the house.
Joe Bryant
Ten million dollars later, the new residence is a whopping 18,000 square feet – almost three times the size of the original house. Its ultra-luxurious modern design is a symphony of glass, stone and vertical louvers with seven bedrooms and 14 bathrooms.
The owner’s suite has an outdoor deck and hot tub.
Mark Angeles
Chen originally built the house for his investor and himself, to use it as a vacation home for a few years and eventually sell it when the time was right.
The bathroom in the owner’s suite is literally clad in white marble and has an oval tub.
Mark Angeles
“If we had built to specification, we wouldn’t have spent that much money,” said Chen.
The developer won’t reveal exactly how much it cost to build, but he claims it’s “in the tens of millions”.
The main kitchen of the house includes a 16-foot island wrapped in leather marble.
Mark Angeles
When the home was completed in the second quarter of this year, luxury home sales – a category that starts at $ 8.8 million – averaged $ 2,078 per square foot in Los Angeles. During the three-month period, 112 luxury homes were sold, according to the Elliman Report, up 138% from Q2 2020. The properties were on the market for an average of 89 days.
A view of the infinity pool and entertainment area on the lower level.
Mark Angeles
A look into the large room.
Douglas Friedman
Check out one of the most expensive new homes for sale in Beverly Hills here.
A spiral staircase leads up from the lower level.
Douglas Friedman
A spiral staircase with Venetian plaster and marble steps leads to the lower level.
There is a 150 year old olive tree in the courtyard of the house.
Douglas Friedman
In the middle of the lower level is a 150 year old olive tree that was imported from Tuscany. Chen said installing the tree required a 110-ton crane and a crew of 15.
Infinity pool
Mark Angeles
The infinity pool on this level includes a lap pool and views of Century City.
The wellness center of the house offers various possibilities for relaxation.
Mark Angeles
The on-site wellness center includes a glazed steam bath, sauna and massage table.
A look at the bar in the basement of the house.
Douglas Friedman
The entertainment area on the lower level has a stone bar.
The dining room of the house offers a breathtaking view.
Douglas Friedman
The dining room sits on a marble bridge over a waterfall and overlooks the olive tree that grows in the courtyard.
One of the two identical guest toilets in the residence.
Mark Angeles
Among the 14 bathrooms are two identical guest toilets with Venetian plaster and a designer washbasin that seems to detach itself from the wall.
The spacious cinema room.
Douglas Friedman
The home’s 4K Ultra HD screening room seats 24 people.
The wine cellar and tasting room has space for more than 2,000 bottles.
The butler kitchen has a 16-burner Viking stove.
The butler’s kitchen has four ovens, three sinks, a hob with 18 burners and a separate entrance for the staff.
