domvs-london_the-park-bel-air_estate-2Los Angeles looks lush from above: A leafy canyon checkered with faux Tuscan villas, the retro pink boxes of Hotel Bel-Air, the Pacific Ocean and Catalina Island in the distance.

This will be the daily view for residents of Park Bel Air, a new 11-acre subdivision under construction in one of L.A.’s most exclusive neighborhoods.

Only three mansions will be built here, the smallest of which has a planned footprint of 58,300 square feet. For comparison, the White House is only 55,000 square feet.

At about 59,000 feet, Park Bel Air’s midsize model is already on the market for $115 million. If it sells, it will be the first nine-figure residential property sold in Los Angeles. (That is, if someone else doesn’t break that record first—nearby construction is underway on another massive Bel Air compound that developers hope to sell for $500 million.)

All these megamansions are designed with a very specific market in mind: the tiny coterie of globe trotters whose greatest house-hunting problem is that nothing is big or expensive enough.

Prospective buyers interested in Park Bel Air have already been in touch from the US, Asia, and the Middle East.
“There is a distinct lack of product, of homes of this size and scale,” said Barry Watts, president of developer Domvs London, to Quartz. Domvs bought the Park Bel Air land for an undisclosed sum in June 2014, with JP Morgan’s investment arm Junius Real Estate Partners.

“Ten, 15 years ago, a 10,000 square foot house was considered to be a large house,” he said. But today, high-net worth buyers are looking at homes starting at 30,000 or 40,000 square feet. And for the wealthiest buyers, even that might be too small.domvs-london-the-park-bel-air-bedroom
The company is selling what they call a “turnkey” experience. If the buyer chooses, the house can come completely furnished, down to the juice bar and bulletproof jewelry display cases in the dressing rooms.

In artists’ renderings of the Park Bel Air mansions, each sprawling house looks more like an office park than a residential home. They have pools, underground garages, and chilled champagne storage rooms. The interiors evoke the brass-and-marble aesthetic of an expensive business hotel; they could appeal to cosmopolitan buyers from anywhere—the US, China, Russia, Qatar.
domvs-london-the-park-bel-air-dining-room

The company is selling what they call a “turnkey” experience. If the buyer chooses, the house can come completely furnished, down to the juice bar and bulletproof jewelry display cases in the dressing rooms.

In artists’ renderings of the Park Bel Air mansions, each sprawling house looks more like an office park than a residential home. They have pools, underground garages, and chilled champagne storage rooms. The interiors evoke the brass-and-marble aesthetic of an expensive business hotel; they could appeal to cosmopolitan buyers from anywhere—the US, China, Russia, Qatar.