Building your dream house is a great achievement. Imagine walking around the house seeing all the details you fantasized come to life. Surely, it’s a dream-come-true, but it can also turn into a nightmare.
The plastic surgeon Raj Kanodia learned that lesson the hard way. He had high hopes that the glass mansion he was building would soon turn into profit. But that wasn’t the case. His $180 million crystal palace has been sitting in the real estate market for more than a year now.
Real Estate Predicament
Many aspiring buyers showed interest in the house for its breath-taking features, but no one was willing to write the check. As international buyers lost interest in luxury houses, the real estate industry began to suffer. Sales were massively decreasing, while the number of listing kept increasing.
Back in 2014 and 2015, developers and investors like Konodia fell into the hype of building overpriced mega-mansions. The market was very promising back then, so we can’t blame the aristocrats for falling into the trap.
Now, with taxes inflating, the cost of living in high-end estates like Bel Air doesn’t sound inviting anymore. Plus, with plenty of choices in the market that promises the same awe Kanodia’s mansion is offering, buyers don’t feel much pressure into acquiring a luxurious home.
Home Features
The state-of-the-art glass palace sits in the neighborhood of Bel Air, Los Angeles. The property is 34,000 square-feet wide, consisting of nine bedrooms. The external feature of the mansion is mostly made of glass with a touch of Portuguese limestone. It welcomes you with a 29-foot foyer which leads to numerous high-ceiled living rooms, dining rooms, and offices.
Inside, there is a fully-equipped gym personally designed by the well-known trainer Harley Pasternak. Additional amenities like a spa for leisure time and a theater room for entertainment are there too. The house has three spacious kitchens with wooden and stone flooring.
A spectacular Los Angeles view awaits you in the master’s bedroom. Since the walls of the house are glass-made even in some bathrooms, natural light comes in giving you a refreshing vibe of nature while over-looking the city.
Speaking of nature, Kanodia went extreme with his garden too. He even imported exotic plants and trees to scatter to his lawn. You can also enjoy the white-topped mountains of the Angeles woodland while dipping in its infinity pool.
Action Plan
The original asking price for the mega-mansion is $180 million, but he’s willing to give it all-in for $120 million. He currently charters it for $1.5 million a month as well while looking for a buyer. In the worst case scenario, he plans to sell his other house located in the same neighborhood and live in the glass mansion himself. That doesn’t sound tragic after all, right?
