Detroit Pistons owner Tom Gores relists Bel-Air lot for $52 million

With the high-end housing market continuing to trend upward in Los Angeles, Detroit Pistons owner and private equity magnate Tom Gores has put a prime development property in Bel-Air back on the market for $52 million, up $2 million from what it listed for last year.

Set above the Bel-Air Country Club, two private driveways lead up to the graded 3.2 acre site, which includes a flat lot of approximately 2.8 acres. Retaining walls, an underground structure and a 15-car garage are currently within the grounds, listing details note.

The property once belonged to the family of Herbert Kalmus, the co-founder and president of Technicolor Motion Picture Co., and included a 1920s Mediterranean-style mansion that has since been razed.

Verna Harrah, the late film producer and wife of casino magnate William F. Harrah, is another former owner.

Stunning photos, celebrity homes: Get the free weekly Hot Property newsletter >>

Gores acquired the two-parcel properties in separate transactions in 2005 and 2008 for a total of about $18 million, property records show.

Samira Gores and Christine Martin of The Agency are the listing agents.

Gores, whose net worth is about $3.3 billion, according to Forbes, is the founder of the Beverly Hills-based private equity firm Platinum Equity.

The 51-year-old purchased a majority stake in the Pistons in 2011 for $325 million. In September, he bought out the remaining shares of the team, giving him 100 percent equity in the franchise.

Twitter: @NJLeitereg

MORE FROM HOT PROPERTY:

Nerdist Industries’ Chris Hardwick lists his home in Hollywood Hills

Rich Eisen and Suzy Shuster list Beverly Hills home for $3.3 million

True Religion’s Kym Gold sells her Spanish-style retreat in Malibu