The custom-built Bel-Air home originally created for basketball legend Wilt Chamberlain has sold for about $9.7 million (£7.6 million), ending years of attempts to sell the large property at a much lower price than its original asking price.
asserted
home → build → price
According to real estate records published by
Mansion Global and
Architectural Digest, the property changed hands after being listed on and off the market for several years.
uncertain
property → accord → years
Located on a private 2.5-acre hilltop at 15216 Antelo Place, the 9,395-square-foot home was sold by real estate investor Dmitri Novikov to cryptocurrency entrepreneur Erik Voorhees.
asserted
home → locate → Voorhees
Coldwell Banker Realty managed the sale.
asserted
Realty → manage → sale
Building a home for an NBA giant
Chamberlain commissioned the house in 1971 while playing for the Los Angeles Lakers.
asserted
Chamberlain → build → Lakers
He spent about $1 million to build the unusual property.
asserted
He → spend → property
Architect David Tenneson Rich designed the home, which Chamberlain named "Ursa Major."
asserted
Chamberlain → design → which
The name refers to the constellation that includes the Big Dipper and connects to one of Chamberlain's most famous basketball nicknames.
asserted
that → refer → nicknames
The design was strongly influenced by architect Frank Lloyd Wright's ideas about organic architecture.
asserted
design → influence → architecture
It combined bold, concrete-like shapes with natural materials such as redwood, glass and Bouquet Canyon stone.
asserted
It → combine → redwood
The house was designed around the 7-foot-1 basketball star's size.
asserted
house → design → size
It included a 14-foot-high front door weighing more than 2,000 pounds, 40-foot cathedral ceilings in the main living room and custom furniture made to fit Chamberlain.
asserted
It → include → Chamberlain
While Chamberlain owned the home, it became well known for its unusual interior features.
asserted
it → own → features
These included a 15-foot-deep swimming pool that extended directly into the living room, a sunken conversation area and a room with mirrored ceilings and a velvet waterbed.
asserted
that → include → ceilings
Chamberlain lived at the Bel-Air estate until his death in 1999 at age 63.
asserted
Chamberlain → live → age
Years of renovation and changes
After Chamberlain's death, the property changed owners.
asserted
property → change → owners
In 2008, investor Dmitri Novikov bought it for $6.55 million.
asserted
Novikov → buy → million
Novikov then began a major five-year renovation to modernize the home and increase its overall space.
asserted
Novikov → begin → space
The goal was to combine modern luxury with the home's original mid-century design.
asserted
goal → combine → design
, the renovation removed some of Chamberlain's most recognizable features, including the mirrored ceiling and the indoor section of the swimming pool.
asserted
renovation → remove → pool
The updated 9,395-square-foot home now includes:
- Five bedrooms and eight bathrooms.
- A modern chef's kitchen with high-end appliances and custom cabinets.
- A private screening room and media lounge.
- A game room with a pool table and wet bar.
- A fully equipped gym with a redwood sauna.
- An updated primary suite with large glass walls and private outdoor terraces overlooking the Stone Canyon Reservoir and the ocean.
asserted
home → update → Reservoir
Despite the changes, the house kept its original 40-foot living room ceiling, large stone fireplace and heavy timber support beams.
asserted
house → keep → ceiling
Price cuts in the Los Angeles luxury market
The home was first listed after the renovation in 2017 for $18.99 million.
asserted
home → list → million
After failing to find a buyer, it was removed from the market and listed again several times over the next seven years.
asserted
it → fail → years
The price fell to $14.9 million in 2020 and then to $11.99 million in 2022.
asserted
price → fall → 2022
The property eventually sold for $9.675 million.
asserted
property → sell → million
Although that was far below the original $18.99 million asking price, the sale still gave Novikov a profit compared with the $6.55 million he paid in 2008.
asserted
he → give → 2008
The sale comes as conditions in Los Angeles' luxury housing market continue to change.
asserted
conditions → come → market
High-end homes have faced longer selling periods and greater pressure on prices following the introduction of the city's Measure ULA transfer tax on expensive real estate sales.
asserted
homes → face → sales
The Aporia
