BUSINESS

$350-million price for U.S.'s most expensive home gets mixed reviews among agents

It’s the most expensive home to hit the market in the U.S., but does it live up to its $350-million price tag? Real estate agents from across the country share their thoughts on Chartwell, the Bel-Air estate of late billionaire businessman A. Jerrold Perenchio, and its chart-topping listing.

I can’t think of a better home in Los Angeles. I can’t think of a better property than this one. It is the most prime estate around.

— Drew Mandile, Sotheby’s International Realty

There are very few [homes] of this caliber in L.A. Like the Playboy Mansion and other homes in Bel-Air, the initial asking price is in the stratosphere.

— Corey Weiss, John Aaroe Group

The first word that comes to mind is aspirational pricing. A lot of the properties coming to market now are part aspirational pricing and part marketing tool.

— Kofi Nartey, Compass

[The Westside] is a unique market, and everything in some way is driven by entertainment, so that is how you should look at this listing.

— Mike Shapiro, HÔM Sotheby's International Realty

I wasn’t shocked. I don’t think it will sell for that price. I know this is a fantastic estate, but it will probably sell for less than that.

— Carl Gambino, Westside Estate Agency

The 25,000-square-foot mansion sits on a little over 10 acres in tony Bel-Air.
The 25,000-square-foot mansion sits on a little over 10 acres in tony Bel-Air. (Hilton & Hyland)

It’s a riot. Who’s buying at that number? It’s intriguing, but in terms of a realistic purchase...is it a Mark Zuckerberg or a sheik who's going to buy it?

— Forrest Arnold, Hawaii Green Realty

The people in the U.S. that have the capacity to buy a $350-million house is limited. I feel like it is going to be a hard thing to move at this level.

— Tim Murphy, Hall and Hall

The prices are destined to keep going up. The more unique your mansion is, the more it will cost.

— Senada Adzem, Douglas Elliman

I am not surprised at the asking price because it is a huge piece of property that was acquired over many years and is in such a prime location.

— Drew Mandile, Sotheby's International Realty

The hyperbole is that people are now in a race to put the most expensive house on the market.

— Mike Shapiro, HÔM Sotheby's International Realty

With a price like this, people [believe] that there is still room to go, and the market will continue to head in a northward direction.

— Corey Weiss, John Aaroe Group

It also means that more ultra high net worth sellers will go towards the open market route as the buyers are global. When you create buzz, people will hear it.

— Senada Adzem, Douglas Elliman

You get the bragging rights of having the priciest home in the country, and you have the goal of selling it for a record breaking price.

— Kofi Nartey, Compass

rachel.spacek@latimes.com

@rachelspacek

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