Yahoo Finance Mohamed Hadid ‘to sell off’ troubled mega-mansion he was ordered to tear down as a ‘clear and present’ danger to public
Gigi Hadid, Mohamed Hadid and Bella Hadid attend the Victoria's Secret After Party at the Grand Palais on November 30, 2016 in Paris, France
(Dimitrios Kambouris/Getty Images for Victoria’s Secret))Mohamed Hadid is selling off the troubled $45m mega-mansion he was ordered to tear down as a “clear and present” danger to the public.
The businessman, who is father to supermodels Gigi and Bella Hadid, has been embroiled in a long-running battle with the city of Los Angeles over the controversial Bel Air estate.
After a six-year fight to complete the partially-built 53,000 square feet mega-mansion, the California Supreme Court rejected his final appeal to overturn a demolition order on the property.
A judge in the case declared that the saucer-shaped building was a threat to the safety of his neighbours, who have argued it could slide down the hill.
Now Mr Hadid is trying to sell the home for $8.5m – and it must be demolished as soon as the sale closes, according to The New York Post.
Demolition costs have been estimated at $5m during the court cases.
According to the real estate listing, the property on the exclusive enclave’s Strada Vecchia Road will give its new owner the “rare opportunity to build a world class estate featuring views of the city and surrounding canyon.”
The current house sits on an acre of land, bought by Mr Hadid for $2m in 2011, and is close to the Bel Air Country Club and downtown Beverly Hills.
Mohamed Hadid’s soon-to-be-demolished Bel Air spec mansion has finally found a buyer. https://t.co/qNb2Tas6Dh
— The Real Deal LA (@trdsocal) May 12, 2021
In 2017 Mr Hadid received 200 hours community service and was fined $3,000 and ordered to pay the city costs of $14,000 for illegally building the home after pleading no contest to criminal charges related to it.
Mr Hadid, 72, was sued by his neighbours in 2018 over the property, which they claimed was illegally built and unstable.
“If this house came down the hill it would take a portion of the neighbourhood with it,” said Judge Craig Karlan after ordering it demolished.
In 2019 it was reported that the businessman did not have the necessary funds to complete the teardown himself, and his company 901 Strada LLC filed bankruptcy days after a court ordered the demolition.
Court documents stated that the company was between $10m and $50m in debt.
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