A newly completed Bel Air mansion is asking $36.5 million. If it sells for that amount in a taxable transaction under current rules, Los Angeles would collect $2,007,500 through Measure ULA alone. That is before other closing expenses, loan repayment or any calculation of the developer’s profit. The property at 1331 Linda Flora Drive is the work of developer Tim McElwee, who purchased the site in 2017. Mansion Global reports that the approximately 10,946 square foot residence incorporates 4,500 tons…
MarketLos Angeles
Bel Air’s $36.5 Million Concrete Mansion Comes With a $2 Million Tax Question
A newly completed Bel Air mansion is asking $36.5 million. If it sells for that amount in a taxable transaction under current rules, Los Angeles would collect $2,007,500 through Measure ULA alone.
