The never-ending story of Mohamed Hadid’s doomed Bel Air build may, in fact, be reaching it’s conclusion. After losing a potential buyer earlier this summer, the partially-built 53,000 square foot mansion, deemed a “clear and present danger,” is heading to auction.
As we previously reported, fellow developer Bruce Lifton planned to pay $8.5 million after the partially-built home was put into receivership. However, 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 of which lead Lifton to back out.
Now, the L.A. Times is reporting that the property is on the auction block, with bids due by Sept. 27. The court will confirm the sale on Oct. 1.
Potential buyers will have to provide a $250,000 refundable deposit in order to bid—and the winning bidder will have to immediately demolish the property. The deconstruction will be funded by the sale, with the complete tear down expected to take four months.