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.

Your editor wonders if this buyer was the Indonesian buyer said to be purchasing Bren Simon’s estate which is described in another post below.