The asking price is more than $100 million above the all-time record for a U.S. home sale: the $238 million paid in 2019 by hedge fund billionaire Ken Griffin for a New York penthouse.
The sale comes amid concerns over California’s proposed new “billionaires’ tax,” a politically and economically explosive initiative introduced in early 2026 that would impose a one-time 5% wealth tax on assets held by state residents with fortunes of more than $1 billion.
The Bel Air property took more than a decade to build and cost more than $350 million to complete, according to listing agents Jack Harris and Michael Fahimian. An entity linked to the Al Thani family paid $35 million for the land in 2010.
The compound spans about 8 acres and includes roughly 70,000 square feet of living space. It was designed and built by extravagant architect Peter Marino, known as the “leather daddy of luxury” because of his signature black biker-leather look. His clients have included Andy Warhol and luxury brands such as Louis Vuitton, Gucci, Dior and Chanel, which hired him to design flagship stores around the world.
The listing agents said the owner spent tens of millions of dollars on excavation and site preparation alone. Fahimian said the royal family’s total investment in the property was effectively around half a billion dollars.
The estate includes a main residence and a separate guesthouse, with a total of 39 bedrooms, 50 bathrooms and nine powder rooms. The main house alone has 10 bedrooms for family members and 13 bedrooms for staff.
Fahimian estimated that the guesthouse alone is worth more than $75 million, but made clear to bargain hunters that it is not being offered separately from the full compound.
A winding driveway, about a third of a mile long, leads to the estate’s grand entrances. The property was designed to meet virtually every need of its residents without requiring them to leave.
The main house has two primary kitchens: one commercial-grade kitchen and another intended for everyday family use. The chef’s kitchen covers about 3,200 square feet and includes professional equipment, including a deep fryer and pizza oven. Twelve service pantries throughout the estate support large-scale entertaining.
The resort-style spa area includes entirely separate sections for men and women. The wellness facilities feature an indoor pool, traditional hammam, hot and cold plunge pools, a sauna and separate massage suites.
One especially unusual feature for a private home is a hidden X-ray room, allowing the owners to hold medical consultations and receive treatment privately inside the residence.
The estate also includes a private cinema, professional beauty salon, gym, dedicated Pilates studio, secure art storage, hidden safe rooms, three elevators, a massive underground garage with space for 25 vehicles and a separate guardhouse for security and operations staff.
The outdoor areas overlook the Bel Air Country Club and offer views of the ocean and Los Angeles. They include three swimming pools. One is decorated with mosaic tile, tiered waterfalls and Jeff Koons’ iconic red balloon dog sculpture.
The lawns also include a tennis court with spectator seating and an outdoor dining pavilion equipped with another pizza oven and virtually every kind of grill.
Much of the project’s management and construction progress was made possible through the Al Thani family’s business ties in the United States. The Qatari royals have close ties to Tom Barrack, the U.S. special envoy for Syria and Lebanon and ambassador to Turkey.
Barrack, a Lebanese American businessman and former head of real estate firm Colony Capital, is considered one of President Donald Trump’s closest allies. During work on the Bel Air estate, Colony Capital served as an intermediary, filed the building plans and helped advance the project with local authorities. Barrack was charged in 2021 with acting as an unregistered foreign lobbyist for the United Arab Emirates, but was later acquitted.
Maintaining a property of this scale comes with its own price tag. Annual property taxes on the Bel Air estate exceed $1.4 million, according to Los Angeles County treasurer data.
Harris said that if the home sells for the full $400 million asking price, closing costs alone would total about 10% of the purchase price, or roughly another $40 million.
It is worth noting that asking prices in the ultra-luxury market are often a statement, not necessarily a final sale price. Nearby, the megamansion known as “The One” was once marketed for $500 million, but eventually sold in a bankruptcy auction for a far lower $141 million.
The listing agents reject claims that the price is unrealistic or designed only to draw public attention, stressing that the owner has already invested an enormous sum in the property.
Harris said the royal family members are “close friends and clients,” but that he does not know why they are selling the estate or whether the decision is connected to California’s proposed billionaires’ tax.
“I don’t ask unnecessary questions,” he said. “They also have homes in London, other places in Los Angeles and around the world. The Bel Air estate was not their primary residence.”
Still, Harris acknowledged that the new tax could make it harder to find a buyer, since any threat of added taxation further deters the tiny pool of people capable of affording a deal of this size.
Even so, he said, the property is so rare that it would be extremely difficult to replicate. “People with means are already spending more than $400 million on private yachts and planes, so why not on a house?” he said.
According to the agents, a major part of the estate’s value is that the buyer can move in immediately without waiting through years of construction.
“The most valuable commodity in the world for people like this is time,” Fahimian said. “From the angle of the land to the level of detail in every finish, the house provides a fully self-contained lifestyle that surpasses the best resorts in the world, with complete privacy and exclusivity.”
At a time when the broader housing market is facing deepening crises, the market for the ultra-rich has reached extraordinary new heights. Los Angeles, a city with a housing crisis, a huge homeless population, a dedicated tax to fund affordable housing and, at the same time, mansions with spas, private clinics, art vaults and garages for 25 cars, may represent the extremes of the U.S. housing market better than anywhere else.
The first U.S. home sale above $100 million took place only in 2011. Last year, about a dozen deals crossed that threshold, including the Malibu estate purchased by Beyoncé and Jay-Z for $190 million.
Today, more than 20 properties are listed at those levels, and at least six major U.S. homes have come to market with asking prices of $200 million or more since 2025.
“Just a few years ago, people were saying $100 million was the new $50 million,” said luxury real estate appraiser Jonathan Miller. “Now everyone in the field is trying to push the limits as far as they can.”
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.ynetnews.com ’
