A mansion that was once America's priciest home just got another price chop. See inside the $165 million estate.
Jordan Pandy
- An LA mansion that was once the most expensive in America got another price cut, to $165 million.
- Casa Encantada was initially listed for $225 million in 2019; it's been on and off the market since.
Casa Encantada has many claims to fame.
The 40,000-square-foot mansion in the Bel Air neighborhood of Los Angeles was once owned by Hilton Hotels magnate Conrad Hilton and was equipped with walk-in basement vaults to house silver, fur, and wine.
After a major renovation, it has modern amenities including a tennis court with a viewing pavilion.
Jeff Bezos once eyed the mansion for himself — then chose one not far away instead.
Now the property is $30 million off.
Let us explain: The house, nicknamed Casa Encantada, hit the market in October of 2019 asking $225 million, making it the most expensive listing in the country at the time.
It's been on and off the market since then with asking prices as high as $250 million, according to its listing history on Realtor.com and other reports. This week, the 60-room mansion cut its ask to $165 million — a 34% drop from its highest price tag.
It's not the most expensive home for sale in the US — that would be a Naples, Florida, compound owned by the family of late financier John Donahue on the market for $295 million. With the latest price cut, it's no longer the most expensive listing in California. That belongs to the 50,000-square-foot Pritzker mansion in Los Angeles, listed at $195 million.
The owner of Casa Encantada is Karen Winnick. She's the widow of Gary Winnick, a financier who founded the telecommunications company Global Crossing and died in 2023.
One of Casa Encantada's listing agents, Josh Flagg of Compass, said its journey through price cuts is indicative of the wider luxury market and flagging demand for ultraluxury properties.
"If this was 2017, the house would be sold by now but given the state of the market, there aren't buyers lining up around the block for any house over $100M," Flagg said in an email to Business Insider. "With that said, there are people out there that can afford a house like this and it just takes that one person."
The 8.4-acre property at 10644 Bellagio Road, overlooking Bel-Air Country Club, has a lot to offer its next buyer.
Take a look inside.
Casa Encantada was built in 1938, according to Los Angeles County property records.
Hilda Boldt Weber, the widow of a glass manufacturer, commissioned architect James E. Dolena to build the estate.
Weber was a nurse who married a Midwestern glass bottle manufacturer after nursing him back to health. The death of her husband left her very wealthy, and she spared no expense in building this massive estate.
Hotelier Conrad Hilton purchased the home from Weber for $225,000 in 1949 or 1950. (Sources disagree on the year.) He lived there until he died in 1979.
The Hilton family then sold the property to Dole Foods CEO and Chairman, billionaire David Murdock, for $12.4 million. At the time, the deal was a record for the US market.
Its most recent sale was to financier Gary Winnick for $94 million — again, another record — in 2000.
Winnick commissioned architect Peter Marino to help restore the property. The project took nearly two years — and millions of dollars — to complete.
Today, the mansion spans 40,000 square feet and has 60 rooms, including seven bedrooms and 20 bathrooms.
While the Winnicks updated the home for modern living, they kept a classic feel.
The main entrance greets guests with a spiral staircase and a grand entry hall with 14-foot ceilings.
A third of the rooms were once used as dedicated servants' quarters, according to an old listing.
The basement was once used to house walk-in vaults for silver, fur, and wine.
Also included in the 60 rooms are multiple living, sitting, and dining rooms.
Some are meant for entertaining, but there’s also a junior dining room for dinners with fewer guests.
There’s an Art Deco-style lucite bar in an informal living room.
Almost every room has a view of the Pacific Ocean and nearby mountains.
Casa Encantada's outside is just as elaborate as its interior.
The grounds were designed by landscape architect Benjamin Purdy.
The outside area features formal rose gardens, a vegetable and herb garden, and a tropical botanical garden.
There’s also a tennis court equipped with a viewing pavilion.
The backyard has a tiled, 60-foot pool and views of Bel Air below.
Casa Encantada has set records when it has traded hands in the past.
Its record-setting streak could end if it sells at its current asking price of $165 million. A Malibu mansion owned by the founder of Oakley sunglasses sold for $210 million in June, setting a record for the most expensive home ever sold in California.
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