Los Angeles Megamansion Once Asking $100 Million Is Now ‘Priced to Sell’

The sprawling trophy home now has a $59 million price tag, slashed from the $100 million it was once asking.

But the price isn’t the only thing that’s changed about the sprawling Bel Air spec house, it’s also got a new set of listing agents and an updated name, the Somma Estate.

“Realistically in this market, this is what it’s worth, it’s priced to sell,” said Shawn Elliott of Nest Seekers, who brought the home to the market last week alongside David Parnes of the Bond Collective at The Agency and Branden Williams of Williams and Williams.

In fact, at this price, which is “slightly below market value,” Mr. Elliott said, competing parties may even end up pushing the final sale price beyond that ask.

Built in 2020, the more than 41,000-square-foot estate is among the largest “amenity-driven, ultra-luxury property on the market,” he added.

Fitted with eight bedrooms and 21 bathrooms, the mansion is in fact the second-largest house on the market in Los Angeles, and has a 36-person theatre and a wellness centre with an indoor pool, a sauna, a steam room, a salon and a fitness studio.

“When you have a world-class spa, you never have to leave the house,” Mr. Elliott said. “You’ve got a hair salon, you can get a manicure, a pedicure. There’s no reason to ever leave.”

There are indoor and outdoor pools. SIMON BERLYN

There are also six bars, a 1,200 bottle wine cellar with a wine tasting room, a recording studio, an auto-gallery for 20 cars with the option to expand the space and add room for another 20.

The house also has “a full indoor NBA-approval indoor basketball court,” a rarity, with most high-end homes offering half courts, Mr. Elliott added.

The amenities aren’t restricted to the inside. Outside, the lush grounds have multi-level terraces, an infinity edge pool and spa, a kitchen and a giant outdoor TV.

The approach to the home is beautiful, too, according to Mr. Elliott. Newly landscaped and redesigned after acquiring some of the property next door, “I think the ‘wow factor’ is there,” he added.

Listing records show the home first hit the market in 2018 asking $100 million—before it was completed—then again in May 2020 with the same price tag. It was most recently listed for $78 million in 2021.

The home is being sold by its developer Westside Property Group, records show.

This article originally appeared on Mansion Global.

Italian fine wines are gaining momentum among Australian collectors and drinkers, with new data from showing a surge in interest driven by value, versatility and a new generation of producers.

Long dominated by France, the premium wine conversation is beginning to shift, with Italy increasingly positioned as a compelling alternative for both drinking and collecting.

According to Langtons, the category is benefiting from a combination of factors, including its breadth of styles, strong food affinity and more accessible price points compared to traditional European benchmarks.

“Italy has always offered fine wine fans an incredible range of wines with finesse, nuance, expression of terroir, ageability, rarity, and heritage,” said Langtons General Manager Tamara Grischy.

“There’s no doubt the Italian wine category is gaining momentum in 2026… While the French have long dominated the fine wine space in Australia, we’re seeing Italy become a strong contender as the go-to for both drinking and collecting.”

The shift is being reinforced by changing consumer preferences, with Langtons reporting increased demand for indigenous Italian varieties and lighter, food-first styles such as Nerello Mascalese from Etna and modern Chianti Classico.

This aligns with the broader rise of Mediterranean-style dining in Australia, where wines are expected to complement a wider range of dishes rather than dominate them.

Langtons buyer Zach Nelson said the category’s versatility is central to its appeal.

“Italian wines often have a distinct, savoury edge making them an ideal pairing for a variety of cuisines,” he said.

The move towards Italian wines also comes as prices for traditional French regions continue to climb, particularly in Burgundy, prompting collectors to look elsewhere for value without compromising on quality.

Italy’s key regions, including Piedmont and Etna, are increasingly seen as offering that balance, with premium wines available at comparatively accessible price points.

Nelson said value is now a defining factor for buyers in 2026.

“Value is the key driver for Australian fine wine consumers… Italian wines are offering exactly that at an impressive array of price points to suit any budget,” he said.

The category is also proving attractive for newer collectors, offering what Langtons describes as “accessible prestige” and a more open entry point compared to the exclusivity often associated with Bordeaux.

Wines such as Brunello di Montalcino and Nebbiolo-based expressions are increasingly being positioned as entry points into cellar-worthy collections, combining ageability with relative affordability.

At the same time, a new generation of Italian producers is reshaping the category, moving away from heavier, oak-driven styles towards wines that emphasise site expression and vibrancy.

“There’s definitely a ‘new guard’ of Italian winemaking… stripping away the makeup… to let the raw, vibrating energy of the site speak,” Nelson said.

Langtons is also expanding its offering in the category, including exclusive access to wines from family-owned producer Boroli, alongside a broader selection spanning Piedmont, Veneto, Sicily and Tuscany.

The company will showcase the category further at its upcoming Italian Collection Masterclass and Tasting in Sydney, featuring more than 50 wines from 23 producers across four key regions.

For collectors and drinkers alike, the message is clear: Italy may have been overlooked, but it is no longer under the radar.

Los Angeles Megamansion Once Asking $100 Million Is Now ‘Priced to Sell’

A colossal megamansion in Los Angeles has just returned to the market with a price cut to match.

Italian wines are emerging as a serious contender for Australian collectors, offering depth, rarity and value as French benchmarks continue to climb.