Real Estate

Beverly Hills ‘mansion’ lists for $32M — but it’s just a basement 

By
Mary K. Jacob
Published Feb. 12, 2025, 3:21 p.m. ET

A Beverly Hills megamansion is up for sale with an astonishing $32 million price tag — but there’s a catch. There’s no actual mansion there. 

The property, marketed as a “rare opportunity to complete an iconic estate,” is nothing more than a foundation and some perimeter walls. 

Located on a prime 1-acre hillside lot, it was last purchased in 2014 for $9.1 million, according to , which first reported on the listing.

Originally listed in 2021 for nearly $10 million less, the lot last sold in 2014 for $9.1 million.
Originally listed in 2021 for nearly $10 million less, the lot last sold in 2014 for $9.1 million. Neue Focus
The listing agent, Justin Mandile of Sotheby's, says the site is fully prepped for construction, with grading and retaining walls in place, and claims its finished value could exceed $60 million.
The listing agent, Justin Mandile of Sotheby’s, says the site is fully prepped for construction, with grading and retaining walls in place, and claims its finished value could exceed $60 million. Neue Focus

In 2021, it was listed for nearly $10 million less than today’s asking price, despite little progress on construction. 

If a deep-pocketed buyer is willing to take on the challenge, the plans — already approved — outline a sprawling 13,600-square-foot residence. 

The design includes five bedrooms, eight bathrooms, open living areas and a “wellness center” outfitted with a spa, a steam room, a sauna and an indoor pool. 

Floor-to-ceiling windows will offer sweeping views of Beverly Hills, downtown Los Angeles and the Pacific Ocean. 

According to listing agent Justin Mandile of Sotheby’s International Realty, the lot has been fully graded and stabilized with retaining walls, making it “fully prepped for construction,” he told Realtor.com. 

The work already completed, he said, will allow for a “seamless transition for the next owner to build immediately.”

But bringing this vision to life won’t come cheap. Mandile estimates the cost to finish the home will be “$7 million-plus.” 

The property is little more than a basement foundation and some walls.
The property is little more than a basement foundation and some walls. Neue Focus

Still, he insists the investment could pay off, as the property’s value could climb to “$60 million, $70 million, $80 million,” once completed.

The project’s size is a major selling point, as Mandile points out that “you can’t get approval from the city anymore for a project of this size and height.” 

He added, “Anyone looking for a nice, new larger home with a great view and all those things, there are only so many of those.” 

It comes with approved plans for a 13,600-square-foot estate featuring five bedrooms, eight bathrooms and a wellness center.
It comes with approved plans for a 13,600-square-foot estate featuring five bedrooms, eight bathrooms and a wellness center. Neue Focus
While the build-out will cost at least $7 million, ultra-luxury buyers may see it as a rare chance to create a custom megamansion -- part of a growing trend of the ultra-rich scooping up unfinished luxury properties.
While the build-out will cost at least $7 million, ultra-luxury buyers may see it as a rare chance to create a custom megamansion — part of a growing trend of the ultra-rich scooping up unfinished luxury properties. Neue Focus

Despite its unfinished state, the listing aims to attract buyers looking to customize their own ultra-luxurious estate in a prime location.