David Parnes & James Harris List “The Park Bel Air,” A Once-In-A-Lifetime Opportunity on over 10 Acres
Posted on 22 Apr
The high-end market in Los Angeles remains active with multi-million dollar, luxury properties being listed, marketed and sold. Among them is what Forbes called some of the most valuable residential real estate in the United States. The Agency’s David Parnes and James Harris now represent The Park Bel Air, a true last-of-its-kind property listed at $125 million, encompassing 10.6 ultra-private, city and ocean-view acres across from the iconic Hotel Bel-Air.
Two decades in the making, the final plans were secured prior to the adoption of new Bel Air restrictions on large-scale development. Within one of the world’s most exclusive residential settings, The Park Bel Air allows for immediate construction of 180,000 buildable square feet across three estate lots with elevated views of West Los Angeles, the Pacific Ocean and Catalina Island. Truly unmatched in the market, The Park Bel Air offers an extraordinary combination of prime location, privacy, scale, and flexibility.
Located in prime lower Bel Air, through the prestigious East gate entrance, the property sits on an elevated promontory directly across the street from the legendary Hotel Bel-Air. Offering a spectacular sense of arrival, the entry gates open to a long and dramatic tree-lined drive. Plans call for up to three nearly 60,000-square-foot residences, as well as redesigned or scaled-down alternatives within the approved envelope, providing the rare option to construct a customized legacy compound on an expedited basis, in phases or with preserved portions for future generations.
“The Park Bel Air is a true blank canvas, offering the opportunity to create one of the most exceptional estates in the world,” says David. “We are thrilled to represent this property and be a part of the story set to take shape in prime Bel Air.” Current plans for Estate One at The Park Bel Air call for a three-acre site with a quarter-mile entry drive, a 59,068-square-foot residence and a 65-foot, infinity-edged pool with lush canyon, city and ocean views. Estate Two also measures three acres, with plans calling for either a 59,352-square-foot residence, or the option to build two structures—a 43,834-square-foot main residence and an entertainment or guest house of up to 15,518 square feet, as well as up two swimming pools. Estate Three offers plans for a 4.6-acre estate and up to 65,051 square feet of living space, including a main residence, staff house, and sports and entertainment pavilion, as well as a regulation-size tennis court and 111-foot pool. Adding The Park Bel Air to their impressive portfolio of luxury real estate, David and James have been a formidable force in the industry for 24 years. Together, they’ve sold more than $1 billion of real estate since 2017, star in Million Dollar Listing Los Angeles, and are consistently ranked among the best in the business in the annual WSJ Real Trends list. Last year, the team represented the seller in the $120 million sale of 594 S. Mapleton in Holmby Hills, also known as The Manor, setting the record for the highest sale in Holmby Hills, the second-highest sale ever in Los Angeles County and the fifth-highest sale in U.S. history. The partners also represented the seller in the $72.5 million dollar sale of a home in the Trousdale area of Beverly Hills—marking the highest sale in Beverly Hills history. They finished the year with a $32.3 million sale in Beverly Flats (the highest in 2019 ), and a $35.5 million sale in Hollywood Hills/Sunset Strip, the area’s highest sale in 7 years. For more information on The Park Bel Air, contact David Parnes at 310.894.3435 and James Harris at 310.733.8038.