Developer Mohamed Hadid has been dealt yet another blow in the never-ending saga surrounding his Bel Air mountain-side build. The partially-built 53,000 square foot mansion has been ordered to be demolished as the mountain-side setting presents a “clear and present danger” to the homes directly underneath.
Following reports earlier this year that Hadid had found a buyer in fellow developer Bruce Lifton, the Real Deal is now reporting Lifton has backed out.
Lifton reportedly planned to pay $8.5 million after the partially-built home was put into receivership. According to the Real Deal, a costly clause would have required Lifton to grade and restore the hillside where the controversial mansion was built. Coupled with the fact that the city told Lifton he would have to remove all existing retaining walls and regrade the entire site. All that red tape and additional cost was apparently too much, as the deal is off.
A court-appointed receiver is working with Premiere Estates to market the property for auction.