Stunning Los Angeles mansion sells for $US94 million, a $US156 million discount on original asking price

You may remember this stunning house – the most expensive spec house ever built in the United States.

When it was listed in January 2017, it was the priciest house ever to hit the market in the US, with luxury property developer Bruce Makowsky looking for $US250 million ($364 million). The price later dropped to $US188 million.

The Wall Street Journal says the mansion in Bel Air Road, Los Angeles has just been sold for $US94 million, which is $US156 million less than the original asking price.

But why did the developer spend so much on a single development? Turns out Makowsky believed there was a ready market for his house, which, appropriately, he named “Billionaire”.

Along with two master suites and 10 oversized VIP guest suites, there are 21 luxury bathrooms, a James Bond-themed home theatre, infinity pool, helipad and bowling alley.

“After spending lots of time on mega yachts and large private jets that can sell from $50 million to $500 million, it baffled me that no one was developing luxury real estate at those high levels for the super wealthy,” he said when he listed the house.

“I set up my real estate development company in Beverly Hills, California, to cater to the super affluent that demand the very best in life.

“I searched by land and helicopter to find a setting worthy of creating this masterpiece. I found it by air in the hills of Bel Air, within the platinum triangle of Beverly Hills, Holmby Hills, and Bel Air. This enclave is home to the most affluent people in the world, from captains of industry to the Hollywood elite.”

And those are the very people Makowsky targeted.

“Billionaire comes completely furnished like no other estate in the world,” the developer said. “There are over a hundred incredible art installations that will leave you speechless. I could go on for days talking about this property and although I’ve provided pictures, the real experience is to visit this gorgeous home. If you truly like and demand the finest things in life, this is a must see.

Originally included in the “chattels” for the new owners were an auto gallery with cars valued at more than US$30 million, the curated art installations, a massive assorted candy wall, a wellness spa and a state-of-the-art fitness centre. For the price of the home Makowsky was also offering seven trained staff for the first two years. We are not sure if that offer was valid with this sale.

Makowsky made his fortune, firstly as a handbag designer and then through real estate.

This story was first published by Stuff.co.nz