The real estate developer and father of supermodels Gigi and Bella Hadid has entered a contract to sell the mansion he had been struggling to build for the past six years for $8.5 million, according to the New York Post. The buyer has not been identified.
Following numerous legal battles and appeals, city authorities definitively rejected Hadid’s attempts to build a 30,000-square-foot estate at 901 Strada Vecchia Road into the side of a mountain — calling the project a “clear and present danger” to the homes directly underneath and ordering demolition of any started construction in 2020.
Hadid, who reportedly filed for bankruptcy shortly after being ordered to tear down what had already been constructed, found a buyer who is interested in the land and has agreed to take on the remaining demolition work.
Inman had previously reported that Hadid, 72, had torn down parts of the estate and worked with city officials to get the construction project up to code as part of his probation sentence. (He was also sentenced to 200 hours of community service and ordered to pay the City of Los Angeles more than $14,000 in damages and $3,000 in fines.) While this was going on, the FBI has also been looking into allegations that Hadid had given a city inspector expensive gifts and “items of value” to get him to sign off on the project, according to the Los Angeles Times.
The land sits on over an acre of land in Lower Bel Air, a celebrity hotspot and prime real estate territory — although it is also subject to strict building rules that Hadid ultimately ran afoul of, leading to his present troubles.
“The property is being offered as a receivership sale,” reads the listing. “The current structure will be demolished by the receiver, following close of escrow at no additional cost to the buyer.”