Billionaire financier Gary Winnick and his wife, Karen, have listed their estate, Casa Encantada in Bel-Air, for $250 million.
The 40,000-square-foot estate with mountain AND beach views was built in 1938 and is considered one of America's most luxurious homes. The 8.5-acre property with sixty rooms has previously set two records as the most expensive home sold in the U.S. If it sells for its asking price, it will set another sale record.
If sold for the asking price, Casa Encantada would become America's most expensive home sold, breaking the record for the third time, the Wall Street Journal has reported. The estate has already broken two previous records. The Winnicks purchased it in 2000 for $94 million (breaking the most expensive home sold record then), and the seller, David Murdock, purchased the estate for $12.4 million in 1980, also breaking the record. Once purchased, the Winnicks conducted a costly restoration, including new necessary updates such as new heating and plumbing system, and made some aesthetic updates.
Casa Encantada was built by Hilda Boldt Weber, who inherited a substantial fortune from her late husband, Charles Boldt, who earned his fortune in bottle making. Architect James E. Dolena, renowned for his work on Walt Disney's extravagant Carolwood Estate, completed the mansion in 1938, making the home 85 years old. Conrad Hilton was the next owner in 1950.
The estate presents many distinguished features; spacious rooms and living spaces add elegance and grandeur. A beautiful lounge with a stunning fireplace access to the grounds is one of the many inspiring rooms of Casa Encantada. The grand reception hall has 18-foot ceilings, and the screening room makes the property feel regal. There's even a pool house with an additional bar. For outdoor enthusiasts, the estate offers a range of amenities, including a rose garden, greenhouse, lit tennis court, basketball court, and more.
Nestled amidst mature trees and adjacent to the golf courses of the Bel-Air Country Club, the estate remains discreetly hidden from the street. In 2019, it was speculated by real estate businessman Jeffrey Hyland that the land value alone for Casa Encantada was an astounding $175 million and that the exceptional craftsmanship of the home and acreage in a highly desirable location made it a remarkable property.
Casa Encantada is located at 10644 Bellagio Rd. Real estate in Casa Encantada's neighborhood typically sells goes for top dollar. Typically, homes in that neighborhood are unparalleled in luxury, and the location is also incredibly ideal.
A luxury property in that neighborhood sold for $52,000,000 on June 27th, 2022. Another property sold for $43,300,000 on April 14th, 2020.
Casa Encantada will likely sell fast as estates of this caliber rarely are listed on the market. It will be interesting to see how fast Casa Encantada will sell and whether it sells for its ambitious $250 million asking price.
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Photo credit: ©Simon Berlyn