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Formula One Heiress Buys $150M Spelling Mansion for Only $85M

PetraEcclestone640

Petra Ecclestone (Reuters)

The Los Angeles mansion built by the late TV producer Aaron Spelling closed Thursday for $85 million -- or 43 percent off its asking price -- after being snapped up by the 22-year-old heiress to the Formula One racing fortune.

The 57,000-square-foot (5,295-square-meter) mansion was listed for a record $150 million, which made it the highest-priced home in the US.

Petra Ecclestone, whose father is the British billionaire and Formula One racing boss Bernie Ecclestone, bought the property.

Candy Spelling, the seller and Spelling's widow, had been one of a select group of wealthy homeowners who sought to hold firm on their lofty asking prices despite the housing market's sharp decline. That group has steadily dwindled. Spelling's estate has been shown since 2008 and was officially listed in March 2009.

Though the sale price was significantly below Spelling's asking price, it is one of the highest ever paid in the US for a single-family home. Earlier this year, Russian billionaire Yuri Milner set what is believed to be the US record for a single-family home by paying $100 million for a French chateau-style mansion in Silicon Valley's Los Altos Hills.

Known as "the Manor," the Spelling mansion sits on five acres (two hectares) in Holmby Hills and has 14 bedrooms, 27 bathrooms, a bowling alley, beauty salon, gift-wrapping rooms and parking for 100 cars. It also sports a double staircase inspired by "Gone With the Wind."

Petra Ecclestone will be splitting her time between London and Los Angeles after her planned August wedding to entrepreneur James Stunt, a spokeswoman said last month.

The heiress also has a six-story house in London's Chelsea neighborhood purchased for £56 million ($90.9 million), according to press reports.

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