Yolanda has barely recovered from our New Year’s merrymaking, but already those busy real estate bees are out there making money moves. Slow down, y’all. LA’s first residential mega-deal of 2019 officially closed last week — $29,000,000 for a 1.42-acre promontory on lower Bel Air’s prestigious Sarbonne Road.
For a full twenty years, the estate was home to prominent art collector Robert H. Blumenfield — records show he bought it in 1998 for just $4 million. Our boy filled the place with name-brand Asian art, which he (partially) showed off in a Christie’s video tour.
Back in summer 2016, Mr. Blumenfield and his longtime wife Sharon upgraded their residential circumstances with the $35 million purchase of an Italianate mega-mansion right on the prestigious Bel Air Country Club greens. That property was sold by real estate baller Bren Simon.
After moving into their new Bel Air digs down the hill, Mr. and Mrs. Blumenfield tossed their “starter” Bel Air house onto the market with a $35 million pricetag. Nearly a year later, they finally accepted the aforementioned lowball offer.
The $29 million buyer is a well-known real estate developer and philanthropist named David Dollinger. 54-year-old Mr. Dollinger hails from Silicon Valley but has been living primarily in LA for the past year or so, ever since his recent marriage to his (second) wife, the former Tara Juergens.
39-year-old Mrs. Dollinger is a Beverly Hills-based certified yoga instructor (yogi!) and Michigan native who sports more than 10,000 followers on the Instagram contraption.
Anyway, let’s get back to the real estate. The existing Bel Air house — the one just acquired by the Dollingers — is an oddball sort of thing originally built in 1938 and designed by legendary architect Gerard Colcord. Yolanda suspects the structure was heavily renovated and expanded sometime in the last 80+ years, which may account for the rather ungainly proportions.
The listing makes no secret that the (architecturally) confused casa is a potential teardown — rather, it shouts that fact to the high heavens. “Approximately 1.42 acre lot ideal to build your dream home. Includes soil reports, survey, and geo. Developer opportunity,” it proudly proclaims.
We would guess that a real estate magnate like Mr. Dollinger bought this place for jetliner views it provides — views stretching from the Downtown LA skyline to the Pacific. The private property will surely make a lovely lovenest for him and his blushing bride. No matter what they build.
And they’ll have plenty of interesting neighbors, too, should they care to invite folks over to smoke a bowl. People like Motown music mogul Berry Gordy, business titan Peter Guber, Swiss private jet pasha Thomas Flohr, and an $88 million spec-mansion with a past.
Yolanda believes the Dollingers are currently leasing a mansion somewhere in Brentwood, but their longtime main residence is an impressive up north in Atherton, near Palo Alto.
Mr. Dollinger also keeps a sprawling vacation spread in the searingly expensive Yellowstone Club winter ski resort community. The exclusive Montana club boasts big-name members like Bill Gates, Justin Timberlake and Google’s Eric Schmidt. And it charges $300,000 as an initiation fee! Lord have mercy.