In 1971, Wilt Chamberlain built his custom Bel-Air estate for about $1 million; after a $6.55 million sale, five-year renovation and a near-$19 million asking price, the home sold for about $9.7 million
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. 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. The final price was about 48 per cent below its highest asking price of $18.99 million in 2017. 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. Coldwell Banker Realty managed the sale.
Building a home for an NBA giant
Chamberlain commissioned the house in 1971 while playing for the Los Angeles Lakers. He spent about $1 million to build the unusual property. Architect David Tenneson Rich designed the home, which Chamberlain named “Ursa Major.” The name refers to the constellation that includes the Big Dipper and connects to one of Chamberlain’s most famous basketball nicknames. The design was strongly influenced by architect Frank Lloyd Wright’s ideas about organic architecture. It combined bold, concrete-like shapes with natural materials such as redwood, glass and Bouquet Canyon stone. The house was designed around the 7-foot-1 basketball star’s 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. While Chamberlain owned the home, it became well known for its unusual interior 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. Chamberlain lived at the Bel-Air estate until his death in 1999 at age 63.
Years of renovation and changes
After Chamberlain’s death, the property changed owners. In 2008, investor Dmitri Novikov bought it for $6.55 million. Novikov then began a major five-year renovation to modernize the home and increase its overall space. The goal was to combine modern luxury with the home’s original mid-century design. According to listing information reported by Mansion Global, the renovation removed some of Chamberlain’s most recognizable features, including the mirrored ceiling and the indoor section of the swimming 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.
Despite the changes, the house kept its original 40-foot living room ceiling, large stone fireplace and heavy timber support beams.
Price cuts in the Los Angeles luxury market
The home was first listed after the renovation in 2017 for $18.99 million. After failing to find a buyer, it was removed from the market and listed again several times over the next seven years. The price fell to $14.9 million in 2020 and then to $11.99 million in 2022. The property eventually sold for $9.675 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. The sale comes as conditions in Los Angeles’ luxury housing market continue to change. 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.
