INSIDE A $39,750,000 HOLMBY HILLS CASTLE ON BILLIONAIRES ROW! 🏰

[@kkp4297]

so they ran out of money to finish building?

[@rbslammed6163]

No they realized they had to find the next sucker to buy the house prior to total collapse of LA housing market

[@brittanyb5942]

Yep they overbuilt imo

[@gadi4824]

😂😂Exactly.. it is hard to find a stupid rich guy, but good luck.

[@Jamal-bb8lx]

No the owner ran into problems with the justice department, I think the justice department seized the property

[@roccyandy]

Basically

[@Nardius1999]

I'll come back when it's finished and furnished. Thanks

[@RobertCohen-m8w]

The real "problem" with this mansion is what Josh & Tommy DON'T show you. Its the room layout on the main level - it was very poorly thought out. Go to the video (7:34 minutes) and "screenshot" the architect's plans and you can see this for yourself. The home was originally built for an Eastern European family who were planning to move to LA, bringing with them their servants and security staff. The left wing of the main floor, stretching from the front lawn all the way thru to the backyard, is comprised of a servant's entrance, a guard station, a truly massive service kitchen and accompanying butler's pantry - plus a double-island "show" kitchen with a large breakfast/lunch nook. This section of the residence takes up about 15-20% of the main floor. Additionally, to the right of the grand foyer (in the front section of the property), this area comprises a huge master bedroom suite, plus a second large ensuite guest bedroom, which together (along with multiple powder rooms, bathrooms, baths, closets, etc.) occupy another 15-20% of the first floor square footage. The grand foyer is impressive - and I am not for a minute suggesting that the grand foyer be downsized - however, you do lose another 15%-20% of the main floor because of the space that the foyer occupies. Lastly, you have a wonderful open patio/California room which extends the full width of the mansion in the back. Again, I would not change a thing about the patio - however, it does slice off another 15-20% of the square footage on the first floor. ALL OF WHICH MEANS that the formal grand living room, the family room, the dining room and the two-story library are "shoe-horned" into maybe 20% of the remaining livable space on the main level. See for yourself: these "curated" living areas (which really define the luxury "quotient" of your home) are relatively small and unremarkable; they are not at all grand in scale befitting a mansion of this size and distinction. It also means that you are not able to include additional "bespoke" rooms on the first floor, such as a home/office or games room or bar/lounge. I also don't see any elevators anywhere. I see a number of staircases and stairwells (including, of course, the twin "dueling" staircases in the grand foyer), but no elevators. And no glimpse of any underground parking . . .where is all this underground space? Finally, please don't get me started but, to my mind, the backyard landscaping and hardscaping is a huge "missed opportunity". It shows a complete lack of vision and creativity. Such a shame, really, because, whatever you may think of this property, it has great, great "bones".

[@jamesh7571]

So True to that person paying attention to detail, that used to be my thing.... But very well said & definitely a stunner on any millionaires level 😘

[@jamesrawlins735]

This was owned by the Armenian Finance Minister. The 34,000 sq. foot mansion was seized by the feds over a tax scandal in Armenia - the guy used the proceeds from a $22 million bribe package to obtain tax benefits in Armenia.

[@billgreen1861]

I can see that whoever buys this château will most likely not keep that design, so like many other mega mansions in Beverly Hills, it will be dismantle, because the limestone is usable for a different architectural design. What a waste of stolen money or bribery money. BTW, the asking price is too high for a government confiscated house even if it's a mansion. It should actually be auctioned off, imo.

[@jamesrawlins735]

@@billgreen1861 It may very well go to auction but it hasn't been on the market long enough. I'm sure that their thought is someone will offer a price with at least a 3 in front of it - whether or not the bank will accept that offer is unknown - My guess is that any auction will have a minimum bid of at least $25 million so fees may drive the price down to $20 million. Holmby Hills is still a very prestigious neighborhood so if the market picks up (and there are always corrections) it may hit somewhere in the 30s.

[@billgreen1861]

@@jamesrawlins735 You might be right about that because, I was thinking somewhere between $20 million and $30 million somewhere in there. But, hard to say exactly where unless the bank is " needy " and I don't think $39 million considering this property was at $59 million just a year ago. We'll see !

[@universalmeditation8631]

In its state, the property is going to a buyer who has obviously the cash but equally the vision of what the finished product will be. What a glorious monumental property. ❤

[@jamesrawlins735]

There's another factor involved. In 2022 voters approved the "Luxury Mansion" tax - a 5.5% tax on home sales over $5 million (with the money supposed to go to homeless programs.) Since it went to effect in spring of 2023 luxury home sales are down 24% in Beverly Hills and a whopping 68% in LA.

[@RobertCohen-m8w]

A number of the homes in Holby Hills just aren't selling. They are not what Buyers want. Too expensive. Spelling Manor has not sold after more than three years on the market. And the Mansion Tax is a disincentive for developers or speculators to come in, complete the property, and flip it. And the size is actually a negative. Billionaires are looking to downsize later in life, they don't want the headache that comes with a mega-sized property. Aaron Spelling had a staff of thirty employees to maintain his home - no one wants that! l They are looking for 9,000 SF-12,000 SF - maybe 20,000 SQ Ft TOPS. To finish this property with ultra-high end finishes and furniture, you have to be looking at another $25 Million USD. Careful on this one. It has a lot of negatives. Not really practical for today's high end Buyers. And the fact that it hasn't sold in one year with Josh's agency (and three years before that with other agencies), is proof positive.

[@brittanyb5942]

I agree! This has been on the market for 2 or 3 yrs!

[@KarmaOmniHub]

yes 800$ per sf to finish it.old school Landry design that nobody wants anymore ,another hedge fund project for a non LA buyer

[@Slonge92]

You just aren’t appreciating the minimalistic interior design. 👀

[@jamesrawlins735]

Unless you are Bey and Jay-Z and want to live in Malibu.... The thing about the Spelling Manor is that it has always been a challenge to sell because it is so expensive. I don't think it's ever sold for close to the original asking price by Candy Spelling, Petra Ecclestone or the Saudi guy that bought it (originally people thought it was a sports team owner). Now I will admit if I were a billionaire I would love to buy the Spelling Manor - I love that asthetic, but I can see how it is a challenge (and whoever handled the remodel for Petra Ecclestone did a great job because it was a dated mess inside after Candy messed with it).

[@cm9859]

Watching your video this morning of June 23, 2024. Sad and eerie to see such a huge castle 🏯 like property with no life. I hope 🙏 a weakthy family will buy property and complete this beautiful estate and people bring life and love and happiness to this property. Very unique for So Cal and yes, looks like a European 🏰 estate here.

[@MMM-ii7ce]

I love how agent is explaining that the relist value is above $100 million yet here we are 6 months later and the listing still hasn’t sold 😂

[@rbslammed6163]

It’s worse than that. Google the address and you will quickly see the isssues

[@jamesrawlins735]

There's another issue here. In 2022 voters in LA passed the "Luxury Mansion Tax", a 5.5% tax on home sales over $5 million (the money is supposed to go to homeless programs.) Since it went into effect the luxury market has been hit hard with sales in Beverly Hills down 24% and LA in general down almost 70%. Even Jim Carrey's home, which is really nice and had a price cut from $28 to $19 million, has been on the market for 2 years.

[@rbslammed6163]

@@jamesrawlins735 since Beverly Hills isn’t LA and didn’t pass the same tax I doubt that’s he issue

[@jazmineyazmin]

Idk why I'm watching this with $0.02 in my bank account

[@brittanyb5942]

Same 😅

[@shelleyobrien8180]

ikr😂

[@billgreen1861]

Because, it makes you feel better about yourself, not having that headache of where to get the money to finish this project. Or even how to pay the government and the staff. 😊😊😊 There, now I feel free of all that !

[@dm3606]

Playboy mansion is not a selling point 😂 those glory days are gone

[@soso8824]

😞So true 😥😓

[@ibeunstoppable]

Would definitely cut the hedges. Need to see the golf course views and it looks like it would feel claustrophobic with the hedges.

[@billgreen1861]

Hedges are used for privacy in and around Beverly Hills, it also functions as a noise barrier in this case from golfers. I lived in Beverly Hills and believe me when a paparazzi wants to get your picture it will find a way even if he or she has to pretend playing golf. 😊

[@williamterry9819]

You are right, it is insane! Who needs this much house in 2024?

[@daniconi7333]

Big family or just wanna show off. Maybe both.

[@onac7178]

It’s beautiful the privacy behind it is beautiful. The privacy in front is beautiful and you get to finish every design dream possible inside. It is just perfect and it’s listed by one of my favorite real estate in Los Angeles county and in Orange county. 💯👑

[@HTHAMMACK1]

Few people want to have to maintain and take care of 34,000 square feet of home. The vast majority of billionaires don't want that either. It's too much house.

[@happycanadianguy]

The manor is so much nicer on the outside

[@Jasona1976]

Has all the warmth of a railroad terminal.

[@brittanyb5942]

The backyard is small for the price BUT I would keep the hedges for privacy!

[@baileyboo9751]

Same

[@VictorCurrie]

If only it had 28 bathrooms...😉 Seriously cool home-in-progress. And you're right. That location is amazing.

[@yo1414]

I walked my dog OCHO by there for 3 years and watched the build. Amazing location!

[@brucewinther6926]

Picking out the finishes will be millions in the 33 thousand sq ft---$40 million and then millions to finish? One can get a great house for 20 and I know this location is the best however A Landry house is always perfection----In 2024 who not only wants ALL of this but NEEDS ALL of this---?

[@CGF101]

$40 million is just the start 😂

[@eddieg6436]

Excellent location…..but the LOT is way too small!! No tennis court, just not enough land. DO NOT cut the hedges, they just need to be shaped to create a perfect “green wall”. Home needs to be on at least 2 acres. ……what’s going on with “The Mapleton Estate” down the street?!? They did the right thing by COMBINING LOTS. Did they run out of money too?!?

[@PressurePodcastShow]

Josh always brings the best 🔥

[@John-vf3ys]

40 million + 15 million to finish is a lot to spend. Most people with that kind of money want to walk into a finished home. Finding the right buyer will definitely take some time.

[@maplefreak64]

How many golf balls fly into this house every day?

[@HTHAMMACK1]

33,000 square feet? Not even if I had all the money in the world. There's nothing livable about 33,000 square feet.

[@kensilva2695]

Is it a gate guarded neighborhood?

[@undercover656]

No

[@onac7178]

This one is absolutely I love this. It’s a plain pallet inside that you can design quickly and beautiful whatever you like into. It’s actually and it’s in one of the best locations. It’s the best block in Beverly Hills. The best road best ever stunning home. 👑💯

[@jamesh7571]

We likey Mikey, let's drip this bad boi!

[@asserjimordonez9225]

This house is featured in the news under sanction by the fbi and doj money laundering and some crimes i dont wanna see doj and fbi while living in this house😂😂😂

[@MarkJamesGolf]

Didn't show the underground parking garage or tunnel that leads to Playboy mansion.

[@jamesrawlins735]

I suspect these days they don't mention the Playboy Mansion 😁

[@BusinessPhilosopher]

Another great example of how vanity can blind a person into throwing away money, i.e. if Warren Buffett doesn't even wanna buy something like this it only means it is not a REAL ASSET. IT IS A MONEY PIT.

[@jamesrawlins735]

There's also a luxury mansion tax in LA - 5.5% on homes over $5 million sold. Lot of expensive homes are sitting on the market for a long time now - the luxury market has been hit hard, with Beverly Hills sales down 24% and LA down 68%. Even Jim Carrey's home has been on the market for 2 years, even with a $10 million price cut from $29 to $19 million. This is the reality.

[@rbslammed6163]

“A lot of developers are chomping at the bit to own this house….” Umm, really? So why ain’t it sold?

[@JesusIsLordLasVegas]

That's Diddy's neighborhood too, isn't it?

[@undercover656]

Yes

[@PrinceVegeta25]

Somebody just needs to finish the house and if the owner don't like it let them change it

[@AKB_48]

someone lost some moola !

[@jthompson120db]

When I see a golf course behind these mansions I just worry about incoming golf balls hitting your head or breaking things.

[@renatagaziova1275]

Josh altman,, 👍

[@randyredman]

A million dollars for every thousand square feet of unfinished house , good luck 🍀 4:09

[@davidanderson6100]

From the front, it looks like the entrance to any Federal penitentiary. Reminds me in a way of Leavenworth.

[@abc123fhdi]

What's so great about being up against a golf course, I'd be worried about gold balls. Though the playboy mansion seems to be fine right there I guess. Maybe the Chinese developer ran out money or ran out of town? The seller will have to pay mansion tax. Holmby Hills should become it's own city.

[@jamesrawlins735]

The guy that owned it was the former finance minister of Armenia. The US govt. seized it because he got nailed for using $22 million in bribe money he received in exchange from some favorable tax scheme in Armenia.

[@plutus205]

Sold. I'm on the Jet right now I'll be there by lunch. Have the contract ready.

[@gadi4824]

Good for you😂

[@danielirjones1678]

California is going down bro. No one is buying this type of home. It ain’t even that nice

[@BeautyEsqueAuthor]

Brilliant - but modern "monster mansions" are not for me...I like mansions with historical interest and even THEN, they have to be truly spectacular for me to WANT them. This is a beautiful property. What I love about California's real estate is that their mansions have land, landscaping, trees with them. No McMansions allowed.

[@aaronlalvena3297]

Not a lot a LA rich people still want their houses to be bigger than 20k sqft since recently

[@beardown6574]

A bit of a fixer upper for $39M lol the castle vibe is cool though.

[@michaelcrowson]

Hey, give me 40 Million dollars for this unfinished house that still needs 10 million more! Yeahh

[@heshley-z9g]

Wood floors, not. Bring on all marble floors😂😂

[@Rick-m3c]

Josh, what is the distance from the end of the covered patio to the hedges, past the pool. Is it 90'?

[@dylansgarage12]

absolute beauty

[@brianpeterson5559]

Taxes are most likely a million or more a year

[@MrTedflick]

When does the new season start? Love the content.

[@danielirjones1678]

You actually believe this show is real ? lol 😂

[@rangerrecon]

Hmmm - I don’t know - I’m going to have to wait and see what Arvin Haddad has to say about this home…

[@henryhammond3847]

Could a lottery winner buy a house like this without a credit history

[@HM-xi5zi]

Yes, of course you can. Money is the key here, even with no credit history!

[@WhiteSilk1783]

I honestly like this design of mansions.. but the oversized windows are kinda throwing this off-

[@BENIたん]

Why do you want to be on the side of the golf course? I don't know and there are no tennis courts.

[@arwyn1025]

Josh, this would be a great house for you, Heather and the littles ones. Wonderful investment.

[@perrytomczyk]

U should go back when its completed, I would love to c how the pool & library turn out.

[@williamsevern1067]

Get Sophie Peterson and Landry started on this. Everything Modern Dream Works Style.

[@pmn2821]

Those handrailings are horrible

[@KarmaOmniHub]

One question : Can you walk your French Bulldog in the neighborhood ? like the old days !

[@Jana_Popana77]

❤❤❤

[@jrstewart4168]

Game just fluid and will make the best bball play💪🏽👌🏽

[@ScuitarRects]

Nice presentation but the house is kinda boring. I like the guard rail on the roof but the rest has too many straight lines. Wasted space should have more wasted space. More voids and useless accentuation

[@salahalselene4957]

very expensive 😁 🔥

[@martinbriese4305]

Bruchbude

[@C-24-Brandan]

Don't care how much money I had, I'd never want a house that big / that gaudy and Def not buying a home in LA or any part of California for that matter.

[@khunopie9159]

Could I put in a wine wall?

[@user-Nemo96]

40 миллионов за гипсокартонные стены? серьёзно???

[@steverl22]

Just looked up the YEARLY TAXES…..$500,000 🤡🤡🤡 you would probably need to put another $3,000,000 to finish it 🤔

[@antomano5623]

By the time with the finishing touches, it could be another $200,000 not including insurance, gardeners, cooks, cleaning staff, security and others to run and maintain this house.

[@rbslammed6163]

200,000? Try 10 million

[@TylorChambers-mr1fz]

rich piana is paying the the house off !!! reel qigong .

[@rollerboogie]

Comparing this to versailles is an insult to versaille. This is a mcmansion compared to real European royal estates like that.

[@jefferyhauge2309]

josh alltman good snow hill house big pool year door open bathroom time tree

[@c5vette739]

I prefer a mansion on the water. Would never pay that for landlocked property. Ugly and tacky.

[@thomascochran1445]

yuck

[@darnellwilliams4215]

Salute family

[@lloydkhambule]

Why do long to build I've seen bigger houses with the most expensive material built in less time than this. But dam it's beautiful.

[@jrvegaboston]

Horrible idea to show an unfinished product like this one.

[@rbslammed6163]

Who’s gonna pay the 15-20 million to finish it first?

[@dailypearls]

Nice government forfeiture

[@christinalyons9038]

This home is gonna be sick once they have the finished turn key product

[@zahid672]

iraq

[@zahid672]

🇮🇶🇮🇶🇮🇶🇮🇶

[@aglady4032]

In My opinion i think this guy Josh is not a good Realtor and always getting over on PPL buying homes. It seems like those PPL seeing the show maybe can Sue I think especially when owner of the houses tell.you how to go upa little on prices, but he and his brother take advantage whether you Ruch or Poor it is PPL's money. 'WOW he Josh and company should be investigated on the show he is always raising the prices on PPL to pay more . When it seems it is lying and doing this to buyers is not Fair for Rich or Poor. He is not for the average Man. I am sorry PPL with money...in my opinion don't support this Man he doesn't care about PPL. To me he is Trump supporter I believe and thinks the way he thinks about Black and Brown PPL..dont support him on his show and off his show to me.

[@grondhero]

Stop doing drugs, okay?

[@abhishekgarg5286]

They said it is a generational home & will survive for the next 100 yrs. Would it survive new cooler fallout that we might witness this century? LOL

[@Luis-jo8mr]

Subtitulo in spsnish please

[@onac7178]

It’s beyond perfect. This is just amazing. I would enjoy a dream home like this is perfect.👑🧩

[@abhishekgarg5286]

How is it a castle, if its got no dungeon & ghosts? Not paying for it unless I see some horror inside the castle. LOL

[@A.A.R.C-Kut2BOX4us8x]

🫵No taste 🫵 waste of architecture,no style,old ass design,just look @the neighbors home way nicer 👉🏯