Just in case there is any doubt that billionaire Elon Musk was serious about the liquidation of all of his residences, Bloomberg reports that Tesla CEO signed a letter of intent to sell not one, not two, but four residential properties to renowned real estate developer Ardie Tavangarian in one package for an undisclosed amount.
While no one is certain what price Musk and Tavangarian agreed on for the four properties, they were previously listed with asking prices totaling more than $ 62 million. The news was announced via a press release from Tavangarian himself, revealing that the deal will be between Musk and a company controlled by the developer:
“Musk has signed a letter of intent to sell multiple properties in Los Angeles to Arya Chalon, LLC, a new entity led by developer / designer Ardie Tavangarian for an undisclosed amount. Arya Chalon, LLC will combine the multi-property portfolio into a unique new development project to make it truly one of a kind. “
As a property developer, Tavangarian specializes in luxury homes, so this four-in-one project seems to fit this specialty. As for its prospects to transform the property once finished, these remain to be seen, but the luxury housing market in LA has rebounded after several months of decline.
The four properties sold by Musk to Tavangarian are all located next to each other (as they should be so that Tavangarian can combine them into one project) on Chalon Road in the Bel-Air district of Los Angeles. . I hope time will tell more about exactly what Tavangarian has in mind for his new acquisitions, but if his statement to the press is any indication, it will certainly be an impressive piece of luxury real estate.