The Most Expensive U.S. Listing Is a $340 Million Work in Progress

A house vying to become the most expensive in the U.S. doesn’t even exist yet.

With an enormous $347 million asking price, an extravagant and under-construction megamansion in Los Angeles is now the most expensive home on the U.S. market.

Listed Thursday, the 7245sqm property’s nine-figure price tag surpasses that of anything else being marketed for sale on public listing portals across the country, according to records with online property database Zillow.

It dwarfs the asking price of the second most expensive property on the public market, a Manhattan penthouse asking approx. $234 million, records show. And if it sells for that price it’ll beat the record-setting sale of the $238 million Manhattan apartment bought by billionaire hedge-fund manager Ken Griffin in 2019.

The owner of the mammoth Beverly Hills trophy home is a limited liability company managed by real estate developer Mohamed Hadid, per company filings, and the multi-level home on close to 37 acres is the largest property ever permitted in the city, according to the listing with Rodrigo Iglesias and Helena Deeds of Hilton & Hyland.

“Nothing compares,” touts the listing, adding that it’s “the finest compound ever to be completed.”

Positioned on the winding streets that overlook the city and close to Franklin Canyon Park, the mansion is to be equipped with a total of 19 bedrooms and 28.5 bathrooms, the Beverly Hills compound will have an impressive catalog of high-end amenities spread over its main house and guest house.

They’ll include a bowling lane, a bar, a massage room, a wine tasting room, a cigar lounge, a wine cellar, a 36-person theatre, a Turkish bath, a pool and a pool bar, and a five-car garage with two vehicle turntables.

Construction is expected to be complete in less than 24 months, according to Forbes, which first reported the listing.

Potential buyers have the option of purchasing the home upon completion for the full $347 million, or the unfinished property can be bought when only the foundation is completed for $92 million, according to the listing.

It’s not clear how much Mr. Hadid, 72, paid to acquire the plot the home will sit on. The developer, father of supermodels Gigi and Bella Hadid, last month appeared in court over his controversial construction of a mansion in Bel Air. He could not be reached for comment.

The surge at that very top end is being propelled largely by increased wealth, a renewed focus on and appreciation of what home is and a lack of other spending options over the past year, according to experts.

In the four months to the end of April, the $50 million-plus market was well ahead of previous years. Sellers across the country had already listed 30 ultra high-end homes at that price level and seriously deep-pocketed buyers had purchased eight, Mansion Global previously reported.

An imposing Scottish castle that has only had four owners in its more than 200-year existence has hit the market asking for offers above £8 million (US$10.45 million).

Seton Hall, as it’s known, was built in 1789 by architect Robert Adam using stone from Seton Palace, the since-demolished property that was considered to be Mary Queen of Scots’s preferred retreat, according to Savills, which brought the home to the market last month.

“Seton is an absolutely magical castle—from the moment you approach, to the inner courtyard, to the quality of interior design,” said listing agent Jessica Gwyn.

The castle—roughly 10 miles from Edinburgh—remained in the same family from the late 18th century until 2003, which “served to freeze Seton in a protective time warp,” according to the listing.

Castellated features such as slit windows and turrets can be seen from the outside, and inside “secret staircases, curved doors, curved walls, arched windows and hidden doors add to the charming sophistication of the architecture and design,” the listing said.

But the castle has since been refurbished to meet modern standards, and now also boasts a helipad, a full security system, a gym, a playroom, a silk-lined dining room and a billiards room.

The restoration project saw a team of expert stonemasons rebuild the castle’s many chimneys, turrets and rooftop parapets. Plus, ironwork was restored, the dumbwaiter reinstated and the 10,000-bottle wine cellar was brought back to life, Savills said.

Alongside the seven-bedroom home that forms the core of the castle, there are additional residences across the property, including Darnley Cottage and Bothwell Cottage—named after Mary Queen of Scots’s husbands.

The castle’s stables have been refurbished, too, and are adjacent to the “Stable Bar,” the castle’s private pub.

The owner—who Mansion Global couldn’t identify—“feels their time as custodian of this outstanding building has come to a natural conclusion and it is time for this historic home to be loved and cared for by someone else,” Gwyn said.

This article first appeared on Mansion Global

The Most Expensive U.S. Listing Is a $340 Million Work in Progress

Developer Mohamed Hadid is behind the under-construction megamansion.