Bel-Air founder’s 1928 mansion bought for $5.5m now asks $32.5 million
A historic 1928 Bel-Air mansion, originally built for Alphonzo Bell, has been listed for $32.5 million following an extensive restoration by owner Michael Wexler. The property, which was purchased for $5.5 million in 2010, features original 1920s architectural details.
Why it matters
The listing reflects the high-end luxury real estate market trends and the value placed on historical preservation in Los Angeles.
A nearly 100-year-old mansion in Los Angeles, built in 1928 for Alphonzo Bell, the oil businessman who helped create Bel-Air, is now on the market for $32.5 million. The Spanish-style home was bought by Michael Wexler for $5.5 million in 2010 and has since undergone a yearslong restoration.According to Mansion Global, Bell commissioned the house after moving from the oil business into real estate development. He helped create the Bel-Air neighbourhood and Bel-Air Country Club. Architect and planner Mark Daniels, who worked on the master plan for Bel-Air, designed the mansion.The property later became home to other notable residents, including Queen Noor of Jordan and film producer Steven Reuther. Reuther, who executive produced films including “Dirty Dancing” and “Face/Off”, added a theatre and editing suite to the property.Wexler, the founder and CEO of Maple Leaf Capital, bought the home in July 2010 while relocating to Los Angeles.
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