As first reported by the Wall Street Journal, a billionaire from Mainland China made an all-cash offer on a luxury Bel Air estate at 822 Sarbonne Road owned by The Arya Group builder Ardie Tavangarian and his wife Tania.
While the deed has not yet been filed, local real estate rumors have it that the man saw the home while browsing the Zillow phone app and reached out to the listing agents himself with an offer.
The property, a 25,000-square-foot estate in the swanky Bel Air neighborhood, is one of the area’s largest. Tavangarian first listed the property for $88 million in November.
Known for selling celebrity and ultra-luxury homes, Branden Williams and Rayni Williams and Jeff Hyland of Hilton & Hyland had been selling the property. They did not respond to Inman’s questions about the sale at the time of publish.
Usually, ultra-wealthy buyers have special staff who seek out different homes and show them to them before they hit the market.
Not much is known about the transaction yet but, according to the WSJ, sources make him likely to be Liang “Johnson” Zhang, the son of Chinese real estate tycoon Zhang Li.
The mansion has eight bedrooms, a movie theater, a car elevator, an infinity pool and 20,000 square feet of outdoor decks. Tavangarian had it built for his family but later decided that it was too large.
In the past, the property was marketed for $100 million. Walmart heiress Paige Laurie had tried to buy the property a few years ago, but the deal ultimately fell apart.