Demand for spec mansions in the Bird Streets isn’t what it used to be, but don’t tell that to Francesco Aquilini.
The Vancouver Canucks owner and spec developer has completed work on a 16,000-square-foot mansion on Robin Drive and is asking $58 million in a pocket listing, according to Yolanda’s Little Black Book. A sale near that price would blow out the record in the celebrity enclave set when alleged white collar criminal Jho Low dropped $39 million for a home at 1423 Oriole Drive in 2012.
The market for homes in the Bird Streets has slumped since then, as droves of spec developers flooded the Hollywood Hills neighborhood with massive “white glass box” mansions.
Aquilini purchased the property at the height of the market in 2012 for $8.5 million, then brought in acclaimed architect Paul McClean to build the two-story home.
It’s most dramatic feature is its massive L-shaped infinity pool that overlooks the city. Inside there’s a golf simulation room, media room, gym, quarters for the staff, a spa with a float tank, and two kitchens, according to Yolanda. There’s also a sizeable rooftop deck.
Aquilini has some other spec projects in the works in L.A. In May he was cleared to seek permits for a nearly 12,000-square-foot mansion in Beverly Hills. That is less than half the size of the home he originally sought to build there in 2014. Some Beverly Hills residents campaigned to change a city ordinance to block the project.
A handful of spec homes have hit the Bird Streets market in recent weeks. Earlier this month, former motorcycle-racer-turned-developer John Kocinski listed a Mediterranean-style spec mansion for $30 million. Last week, interior designer Lindsay Chambers listed a modernist manse in the neighborhood for $19 million. [Yolanda’s Little Black Book] — Dennis Lynch
Source: The Real Deal Los Angeles