Lavish Mansion Near the Bel Air Hotel Sells To Local CEOS
About eight months since it was initially listed at a notable $42.5 million, a vast Bel Air estate belonging to the multi-talented entertainer Jennifer Lopez has officially changed hands, albeit at a reduced yet still substantial price of $34 million. This amount still reflects a $6 million increase from what she acquired it for from actress Sela Ward back in the spring of 2016.
According to property records, the new owners are Taiwanese businessman Walter Wang, who serves as the president and CEO of JM Eagle, the world’s largest manufacturer of plastic and PVC pipe, and his wife Shirley, who is the founder and CEO of Plastpro, a leading fiberglass door manufacturer. The Wangs have long held ownership of two Bel Air residences located just a few doors away from their newly acquired property and the Bel Air Hotel.
Samuel Marx designed the mansion in the 1940s and underwent a significant transformation during Jennifer Lopez’s ownership, becoming a “one-of-a-kind multi-structure French Country retreat,” as described in the listing. Nestled behind a gated driveway on an expansive 8-acre plot, the property, characterized by creamy stucco and wooden accents, offers nine bedrooms and 13 bathrooms within slightly over 12,800 square feet of living space that seamlessly opens up to extensive terraces.
The estate boasts a range of impressive amenities, including a guest cottage, a gym, a 100-seat amphitheater, a pagoda with a fire-pit, a putting green, an infinity-edge pool and spa, and a private lake complete with its own sandy beach, among others.
Notable features within the residence encompass a grand living room featuring a soaring wet bar, a fireplace, and a gracefully curved wrought-iron staircase. Additionally, the property includes a formal dining room, a wood-paneled library, and a gourmet kitchen equipped with a stone fireplace and a cozy breakfast nook. A spacious family/game room is fitted with yet another wet bar, while the lower level houses a luxurious movie theater. An upstairs master bedroom wing boasts a fireplace, a library/sitting room, dual dressing rooms, and accompanying bathrooms.
Jennifer Lopez and her actor husband Ben Affleck, who sold his Palisades bachelor pad for $28.5 million in October 2022, had initially planned to renovate and reside in her Bel Air mansion following their marriage just over a year ago, according to TMZ. However, they chose to live in a rental property before eventually purchasing a massive compound in the Benedict Canyon neighborhood of Beverly Hills for a staggering $61 million in cash this past May.