Mohamed Hadid’s $250 million Los Angeles mansion goes bankrupt

Mohamed Hadid and drawings of the project (Getty, Hilton & Hyland)

Private mansion developer Mohamed Hadid’s web of financial and legal tangles continues to grow with the prospect of losing the most expensive piece of his portfolio, a partially built Beverly Hills mansion that has the distinction of being Los Angeles County’s most expensive residential listing.

On Monday, Hadid filed for Chapter 11 bankruptcy at 9650 Cedarbrook Drive, a 78,000-square-foot planned home currently on the market for $250 million, according to documents submitted to California’s Central District court in Los Angeles. Sitting on a 37-acre lot, the project is the largest residential construction ever permitted in Los Angeles, according to a listing in Zillow.

There is a main residence and a guest house in the complex, which consists of 12 separate parcels. The plans include 19 bedrooms, 28.5 bathrooms, a Turkish bath, indoor and outdoor pools and a bowling lane.

Hadid offered buyers two options for the property. For a more modest price of $92 million, a buyer can take over construction once the foundation is complete. The astronomical price of $250 million is for a private home that will be delivered upon completion.

The property resurfaced on listing sites in August of last year. At the time, Rodrigo Iglesias, the Hilton & Hyland agent responsible for the listing, told TRD that he wanted to combine the Cedarbrook Drive site with an adjacent property that was also owned by Hadid and was almost twice as large. This undeveloped property has been the subject of a longstanding dispute between Hadid and environmentalists.

The site, a popular hiking route known as the Patient Trail, is located right next to Franklin Canyon Park. Hadid aimed to build a luxurious gated community on the site. Meanwhile, opponents want public access to the protected 1.5-mile loop. Hadid LLCs that own the adjacent site have since filed for bankruptcy.

According to the records, several contractors have filed for liens against the Cedarbrook Drive property since 2019. One of his most recent requests, dated April 9 of last year, disclosed a $350,000 debt. Since then, many of the liens have been withdrawn.

The entity that owns the Cedarbrook Drive property, which counts Hadid as its only member, estimated its assets in the Chapter 11 filing between $100 million and $500 million. Limited company listed 22 creditors.

The filing comes just months after the demolition of the Bel-Air mansion that Hadid once tried to sell for $100 million. It was demolished after a judge declared the property a “clear and present danger” to neighbors.

Hadid’s lawyer, Lewis Landau, did not respond to a request for comment.

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