Massive mega-mansion in LA approaches deadline in a WEEK before seller loses fortune

  • Hedge financier Jeffrey Feinberg will accept a $6 million loss to avoid LA’s latest imposing tax hike
  • As the financier tries to dodge a $2 million tax, other lavish homes in the area could lose more than $8 million
  • Los Angeles elites face a new mansion tax within a week that will cost a 5.5 percent share of any sale over $10 million

A California hedge funder tries to sell his sprawling LA mansion before the impending April 1 deadline costs him millions.

Jeffrey Feinberg, millionaire head of Feinberg Investments and former director of George Soros’ hedge fund, is facing a new mansion tax that will be imposed on Los Angeles’s buoyant real estate market.

The financier is willing to accept a $6 million discount on his extravagant seven-bed, eleven-bathroom home, far less than the $44 million he paid just two years ago, simply to avoid spending another $ 2 million if the new tax comes, reports CNBC.

Decked out with the most lavish amenities money can buy, including a Kobe Bryant-themed basketball court and a 22-foot infinity pool with panoramic views of the California coast, the property is one of the most luxurious in the country.

And Feinberg isn’t alone in feeling the sting, with many of the lavish region’s most expensive mansions on the market that seem to cost their current owners a fortune.

Financier Jeffrey Feinberg’s home is quickly trying to sell his sprawling LA estate, pictured, to avoid a looming mansion tax
Feinberg, pictured, is the head of Feinberg Investments and a former director of George Soros’ hedge fund. He is reportedly willing to sell the house at a loss of $6 million
The spacious house is complete with seven bedrooms and eleven bathrooms
A 22-foot infinity pool offers panoramic views of the California coast

Feinberg faces the huge loss thanks to a new LA property tax that will give the city 4 percent of all home sales between $5 million and $10 million.

And for properties that sell for more than $10 million, officials take a huge 5.5 percent cut when the homeowner cashes in.

The local law, which takes effect April 1, forces Feinberg’s hand after a years-long battle to relieve his lavish estate.

After buying the house for $44 million in 2021, Feinberg put the house back on the market for $48 million after just a year, but found no buyers.

He later brought in an aggressive pricing strategist, who slashed $10 million off the asking price — which would cost Feinberg the equivalent of $64,000 for each of the 94 weeks he’d lived in the home.

And it’s easy to see why the estate reportedly netted the financier millions in expenses, not least because of the full staff required to maintain it.

Numerous private terraces are dotted around the sun-drenched behemoth, which features a unique open-roof design that makes it stand out among its lavish neighbours.

The labyrinthine interior is decorated with clean, stylish finishes and expansive rooms, including a game room, home theater, golf simulator, and seven chic bedrooms comparable to the world’s most expensive hotels.

On the lower level, glass walls offer a glimpse into a sleek car gallery – sure to be filled with supercars to suit anyone who can afford the massive mansion.

The lower deck has a glass-walled gallery to house an array of supercars
A Kobe Bryant-inspired basketball court is located on the sun-drenched estate
The lavish property also comes with its own cinema room

Los Angelinos voted in November to approve the new mansion tax, which is expected to raise between $600 million and $1.1 billion each year.

The money will be funneled into affordable housing and tenant assistance programs in the area, raising money from every home sale in excess of $5 million.

Unless it miraculously finds a buyer within a week, one of the hardest-hit properties for sale is a sprawling 12-bedroom Bel Air mansion, currently on sale for a whopping $139 million, according to Zillow.

Dubbed “Le Fin,” the mansion offers panoramic views of Los Angeles and rivals almost any home in the country for aesthetic design.

A spiral staircase revolves around a massive chandelier made of 55,000 crystals, while every piece of furniture is custom made for the property by luxury Italian brand La Contessina.

However, the new mansion tax would take more than $7.6 million from the sale if sold at current market value after April 1.

Dubbed ‘Le Fin,’ pictured, a sprawling 12-bedroom home is currently on the market for $139 million
The owners of the lavish estate would lose $7.6 million if they sell the home after April 1
The home comes with a supercar-filled living room and luxurious amenities
A spiral staircase revolves around a huge chandelier made of 55,000 crystals inside the property

The city would gain even more from the sale of another lavish property in the area – with a private label ‘The Manor’ in the exclusive community of Holmby Hills that would bring in $155 million.

While the city would make an outrageous $8.5 million from the sale, the new owners would find it well worth it as they loved the many features.

Nestled on a majestic four-acre lot, The Manor offers a private escape from the hustle and bustle of LA life – while also adjacent to the prestigious Los Angeles Country Club.

The house offers an over-the-top 27 bathrooms spread over its 56,500 square foot lot, and also has a bowling alley, tennis court, beauty salon, rose garden, and professional screening room.

This sprawling estate, called ‘The Manor’, pictured, is one of the most lavish in the country
The City of Los Angeles would make a bizarre $8.5 million from the sale
The house is equipped with numerous amenities, including a bowling alley, beauty salon, rose garden and professional cinema

For those who don’t want to cross the $100 million threshold, a stylish $49 million property is also in the crosshairs of the new mansion tax.

Also located in the highly desirable community of Bel Air, the stylish home features six bedrooms, eleven bathrooms and unobstructed views of the Pacific Ocean.

A sun-drenched deck is filled with lush landscaping and an infinity pool, steps away from a private indoor spa.

Also featuring its own wine cellar, gourmet kitchen, and home theater, the home’s amenities are spread over a 5,000-square-foot lot.

But under LA’s latest tax, the owners would lose just over $2.7 million if they part ways after April 1.

This home is up for grabs at $49 million and is located in the highly desirable community of Bel Air,
Selling it would earn LA a $2.7 million payday thanks to the new mansion tax
Aside from the breathtaking views, the stylish home boasts its own wine cellar, gourmet kitchen and home theater system
The home’s streamlined design makes it one of LA’s most stylish mansions

One of the classiest estates subject to the new wealth tax is up for grabs at $64 million, an enviable property located in the prime Palisades Riviera.

While not the largest on the list, with just over 1.1 acres of land, the 13,000-square-foot home also comes with a 3,000-square-foot two-bedroom guest house.

The lavish house has eight bedrooms and 14 bathrooms, as well as two study rooms, a gym, media and game rooms, and a Japanese hot tub.

Outside, a long private driveway ends with the picturesque grounds featuring a large pool and hot tub in the manicured backyard.

But unless the owners can sell within a week, the owners will miss out on $3.5 million.

This $64 million home is one of the most stylish in LA’s expensive housing market
With eight bedrooms and 14 bathrooms, the home retains an aesthetic style not always found in West Coast mega-mansions
Panoramic views of the LA skyline can be seen from the master bedroom
The stylish home is complete with traditional finishes, including stacked bookcases adjoining the dining room





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