A Bel-Air Home that Blends Modern and Historic Elements Asks $31.5m

In Los Angeles, a home with a rare combination of historic and contemporary architectural pedigree is coming on the market for $31.5 million.

The circa-1949 house in Bel-Air was originally designed, and later owned, by architect John Elgin Woolf, known for his Hollywood Regency-style. More recently, it was renovated and restored by the architect and landscape guru Mark Rios and his husband, reproductive endocrinologist Dr. Guy Ringler. Rios, one of the architects behind the renovation of the Hollywood Bowl in Los Angeles, has designed homes for entertainment heavyweights like Clive Davis and television producer Darren Star.

Rios and Ringler paid $12 million for the roughly 8,400-square-foot, five-bedroom property in 2021 and embarked on an 18-month renovation. They moved into the house in 2023.

“We wanted to make it contemporary, but still not change the spirit and iconic quality of the architecture,” Rios said. “I kept on thinking, ‘If Jack Woolf were alive today, what would he do?’ And then also, ‘What would Mark Rios do?’”

When they purchased the property, Rios said, the home had fallen into disrepair. The layout was a relic of decades past, with servants’ quarters and separate primary-bedroom suites. A prior owner had installed an elevator from the kitchen to her dressing room to facilitate mid-party wardrobe changes.

The couple revamped the layout, converting a library into a media room with bright red walls. The new centerpiece of the home is a lounge with a fireplace and bar.

Outside, the couple aimed to make the pool area a more social setting for entertaining. They turned a pool pavilion into a Moroccan-style sitting area, which they jokingly refer to it as “the drug room” because of the psychedelic colors, Rios said.

For a recent dinner party, the couple re-created the menu from a New Year’s Eve party thrown at the house in the 1960s, serving beef wellington and “some kind of seafood mousse,” Rios said. They even hired a musician to impersonate the 1960s trumpeter and pianist Herb Alpert.

They are selling because they are spending more time at their home in Montecito, Calif., Rios said. The property is listed by Linda May of Carolwood, an affiliate of Forbes Global Properties.

Bel-Air, which was largely unaffected by the recent Los Angeles wildfires, has seen a handful of deals close at $30 million or more over the past year, Zillow shows. A nearby estate with an addition by architect Paul Williams sold for $39 million in November.

Write to Katherine Clarke at Katherine.Clarke@wsj.com

Leading Australian development manager Fortis has secured a landmark off-the-plan sale at Richmond Square, with high-profile hospitality entrepreneurs Bruce and Chyka Keebaugh purchasing a 550sqm penthouse residence in Carmine House, establishing a new price benchmark for apartment living in Richmond.

The purchase underscores the continued demand for premium, amenity-rich residences in Melbourne’s inner east.

The transaction marks a significant milestone for the $330 million mixed-use precinct, reinforcing buyer appetite for integrated, lifestyle-led developments.

Richmond Square comprises two residential offerings – Carmine House and Wiltshire House – alongside a 57-room boutique hotel, strata office space and a curated mix of retail and lifestyle operators.

As part of Carmine House, residents have access to hotel-style amenities and services, including concierge, housekeeping, dry cleaning and in-residence food and beverage delivery.

Best known for building The Big Group into one of Australia’s leading luxury hospitality and events businesses, the Keebaughs were drawn to the precinct’s integrated lifestyle offering and its proximity to Melbourne’s hospitality, cultural and sporting precincts, while remaining well connected to the Mornington Peninsula, where they spend much of their time.

As well, Chyka is well known to Australian audiences as one of the original stars of The Real Housewives of Melbourne, appearing across three seasons of the hit reality series.

Alongside her business ventures with Bruce, she has built a public profile as a lifestyle authority, authoring two books on home and entertaining, Chyka Home and Chyka Celebrate.

“We weren’t simply looking for a luxury apartment,: the couple said. “We were looking for a home that delivers an exceptional lifestyle every day. The combination of design, walkability, security and the broader precinct vision for the broader precinct immediately stood out.”

Jordan Winada, Head of Acquisitions (Commercial) Victoria at Fortis, said the result highlights evolving priorities at the top end of the market.

“This sale reinforces that premium buyers are prioritising the complete lifestyle experience,” says Winada.

“They’re increasingly looking beyond the apartment itself and assessing the quality of the surrounding neighbourhood as well.”

Sean Cussell, Director at Christie’s International Real Estate Victoria, who negotiated the transaction, said the result reflects the lack of comparable product at this level of the market.

“There’s simply no direct comparison for this in Richmond. It’s not just an apartment; it’s part of a fully integrated precinct combining residential, hotel, workplace and lifestyle amenity,” Cussell said.

“Buyers are increasingly assessing the broader offering, from amenity and walkability to service and convenience. Projects that deliver a complete lifestyle experience continue to outperform.”

The sale contributes to Fortis’ strong national performance, with the business recording more than $124 million in sales since March, the last three all record-breaking penthouse sales across the country, reflecting sustained momentum across its portfolio and continued appetite for premium, design-driven developments.

This follows Fortis’ recent record-breaking Ruby House penthouse sale in Sydney’s Double Bay, which set a new benchmark for apartment living in the suburb and underscores the strength of demand at the ultra-premium end of the market.

Richmond Square will announce its hospitality and lifestyle operators in the coming weeks as the project progresses towards completion this year.

A Bel-Air Home that Blends Modern and Historic Elements Asks $31.5m

Architect Mark Rios and his husband, Dr. Guy Ringler, spent 18 months renovating the house, which was originally designed by John Elgin Woolf.

Hospitality entrepreneurs Bruce and Chyka Keebaugh have set a new price benchmark for apartment living in Richmond with their purchase of a Carmine House penthouse.