Mohamed Hadid's Beverly Hills spec home price drops to $12.9 million

The price of high-end real estate mogul Mohamed Hadid's latest Beverly Hills offering just took a dip in the old infinity pool. Hadid lowered the price from $16.5 million to $12.9 million on a 12,000-square-foot spec home.

Hadid, whose reputation comes from his development of Ritz-Carlton hotels, is known for building high-end homes on a grand old-world scale. Think opulence times 10 -- artisans brought in to do the handcrafted jobs, top of the line materials imported, unique design features that make mere mortals drool.

To get to this newly constructed home, you cross a Jerusalem stone bridge over water; I'm sure no fishing is allowed. The modern Balinese-style home has imported materials from all over the world -- bamboo, exotic Asian woods.

The doors are as thick as trees; there are floor-to-ceiling glass windows, and there are three separate master suites among the six bedrooms and nine bathrooms. The house has a home theater, wine cellar and aninfinity pool with unobstructed views. A Hadid touch: The furnishings were custom-made for each space and are included in the price.

Hadid is the guy who went head-to-head with and beat The Donald to acquire what was considered the choicest piece of land in Aspen in the 1990s. Alex Davis of Hilton & Hyland, Beverly Hills, shares the listing with Joyce Rey and Stacy Gottula of Coldwell Banker, Beverly Hills.

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