It is difficult to imagine that the economic downturn and the ensuing crisis was caused due to people’s inability to pay their mortgages on their house. This year has already witnessed some big ticket property sales. New records are being created and old ones are being broken with increasing frequency. The market may still not be flush with funds but the flow of money is most certainly up.
The most recent example that proves this point is the purchase of a Bel-Air mansion for a record price between $50 million and $72 million. This was the asking price which was accepted by the buyer. This expensive real estate transaction has broken the previous record of $46.5 million sale of a Colorado property ,created earlier this year. Mohamed Hadid, the developer of the property, sold Le Belvedere to an unnamed LLC.
Le Belvedere is inspired by the French chateau. The mansion boasts of a Moroccan entertaining room, a Turkish steam bath room, an infinity pool, an industrial kitchen with pizza oven and a 5,000 bottle wine cellar. The architects and the interior designers have come up with a property that combines the luxury and style with modern comforts. The scales are large and suit a lavish lifestyle.