HADID BEL-AIR MANSION UNDER CONTRACT TO INDONESIAN FOR $50MM
At a cost of $59MM according to the seller, Hadid, the Nimes Road mansion has10 bedrooms, 14 bathrooms, 48,000 sq ft mansion on 2.2 acres and includes a ballroom that seats more than 200, 20-car motor court, music room, pond for swans, seven fountains, Turkish hammam (steam bath) and columned movie theatre with a mural on the ceiling.
Seller, Los Angeles, Aspen and DC developer Mohamed Hadid, built Ritz-Carlton hotels in the 1980’s and currently builds massive homes in Los Angeles, Mexico and elsewhere. He is said to control $400MM worth of Washington, DC real estate.
The Nimes Road property includes painstaking details tooled by master craftsmen and opulent decorating by gifted artisans. The pictures herewith tell a beautiful story.
Originally the property was listed for $85MM, and the priced dropped to $72MM. When it closes this will be the highest priced residential real-estate sale in the US so far for 2010.
According to the Hadid Development website, Mohamed (“Michael”) Anwar Hadid, was born in Nazareth in 1948, and had 7 brothers and sisters. He considers himself a Palestinian exile at birth. He was schooled at Washington & Lee High School in DC, and excelled at math. He became a Washington developer in 1981. His finances have gone up and down. He “out-Trumped Trump” on an Aspen property, and according to the Hadid Development website, has come close to foreclosure on many deals. He has a fleet of Rolls-Royces, flamboyant style, and “seemingly magical source of quick cash.” Rumors abound about the source of his money, but it is reported to be a nonprofit foundation that funds development projects in Islamic countries and the United States, and is now located in the US. For a fascinating story about Hadid, that details his Aspen property, go to Hadid Development site.