Where: 438 North Faring Road, Holmby Hills

How Much: $30,000,000

What: Spectacular new construction by Alessandro Cajrati-Crivelli of Estate 4, setting a new level of luxury in the neighborhood.

The Team: Co-listed by The Agency’s CEO Mauricio Umansky and the team of David Parnes and James Harris, along with the Westside Estate Agency’s Kurt Rappaport, the property’s original asking price was $35.5M. Parnes and Harris (pictured below, l-r) represented the buyer in the transaction, with a final selling price that was ultimately $5.5M lower. Still a record breaker, as Harris told us “this modern architectural masterpiece was a record sale for a new construction home in the neighborhood. We believe there’ are a lot more of these record breaking sales to come in 2016.”

Crivelli, a Milanese developer with a specialty in high-end design/build projects in Italy and New York, began working in Los Angeles a few years ago when he saw a profitable gap for luxury spec projects that met the highest standards. And this property does just that– on a princely level– fully taking advantage of California’s indoor-outdoor lifestyle with private resort amenities, two kitchens (one for the caterer, of course) along with 7 bedrooms and 8.5 bathrooms, garage parking for 9 cars and an elevator between the 3 levels. Along with a fanatical attention to detail, a complex project like this takes years to bring to market, marshaling the forces of dozens of specialist craftspersons to create the finished product.

The entire house was designed for large-scale works of art, with museum-quality lighting design. Below, the gallery runs almost the length of the house. No detail was left unconsidered, like the shaft of marble running through the staircase, enclosing a handrail that’s both recessed and illuminated. The dining room, below, and eat-in kitchen with cabinets by Molteni. The airy master suite has private outdoor space and a view of the canyon, plus two master baths and dressing rooms.

To read the full article on California Home + Design click here.