It's Official! Candy Spelling's Closing Price: $85 Million
At long last, the speculation can end about how much Petra Ecclestone, the 22-year-old daughter of Formula One race car magnate Bernie Ecclestone, paid for Candy Spelling's manor: It was $85 million, according to an officially released statement.
The sale of the 56,000-square-foot estate in Bel-Air broke a few records in the process.
The sale is the top price ever paid for a home in Southern California, say the agents involved. It had been listed at $150 million for two years, the highest private residential listing price in the country.
The sale to Ecclestone (pictured) also marks the highest home sale to be accomplished in the country with both the buyer and seller represented by the same firm -- Hilton & Hyland, a boutique firm in Beverly Hills that's an exclusive affiliate of Christie's International Real Estate. Rick Hilton and David Kramer of Hilton & Hyland represented Ecclestone in the sale. Rick Hilton and Jeff Hyland of the same firm represented the seller, Candy Spelling. Sally Jones of Coldwell Banker was the original co-listing agent with Hilton & Hyland and was included in the sale.
Candy Spelling built the home in 1990 with her husband, TV mogul Aaron Spelling. Its size was a heated debate during the construction process, but few would dispute that the materials used in the 123-room mansion were anything but impeccable and top-of-the-line. The home has 14 bedrooms, 27 bathrooms, and features a bowling alley, gift-wrapping rooms and so much closet and storage space that Spelling was frequently chided for having too many possessions.
Spelling has temporarily relocated to a penthouse in the Carlyle Residences on Wilshire while she awaits completion of a new 16,000-square-foot two-story penthouse in Century City. She bought the penthouse in 2008 for $47 million.
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