IBJNews

Simon mansion in Bel Air on market for $50M

Back to TopCommentsE-mailPrintBookmark and Share

Bren Simon's mansion in the ultra-ritzy Bel Air neighborhood of Los Angeles is up for sale for $50 million.

The 20,000-square-foot estate went on the market in late February, about six months after the death of her husband, Melvin, the billionaire co-founder of Indianapolis-based Simon Property Group Inc.  

It's not clear whether the planned sale could become an issue in the legal battle over Melvin's estate launched in January by his daughter Deborah. If ownership was in Bren's name at the time of Melvin's death, or ownership was set up to revert to her at his death, the asset would be outside the estate. Attorneys for the parties declined to comment or did not respond to a request for comment.

It’s not clear how much of a profit Bren would pocket if the house fetches near the asking price. The couple bought it for $27.5 million four years ago, according to listing details. Since then, however, Bren, an interior designer, spent millions on upgrades.

The sale is creating a stir among residential real estate aficionados. Miami-based Haute Living magazine wrote that the opulent estate in Bel Air’s most prestigious area “oozes old-school glamour and eternal sophistication.”

Built in 2003, the property sits on 1.5 acres and offers a “breathtaking” view of the Bel Air Country Club golf course.

The home boasts eight bedrooms, 16 bathrooms and features a movie theater, indoor spa and gym, billiard room, wine cellar, poolside lounge, guest house, 2,000-square-foot master retreat and a subterranean garage to store a car collection.

The Bel Air mansion was not the Simons’ only expensive piece of property. Asherwood, a Carmel mansion with its own golf course, has an estimated value topping $50 million. Bren also has a condo in New York City, a home in Aspen, Colo., and other property.

Melvin married Bren, his second wife, in 1972.

In her lawsuit, Deborah is asking the court to throw out changes to Melvin’s estate plan he approved in February 2009, seven months before he died at age 82.

Deborah contends he was suffering from dementia and didn’t understand what he was doing when he signed off on the plan, which boosted the share of his fortune going directly to Bren from one-third to one-half.

The changes also wiped out a portion that was to go to Deborah and her siblings from Melvin’s first marriage—Cynthia Simon-Skjodt and David Simon, the CEO of Simon Property Group—and left charitable gifts stipulated in prior versions to Bren’s discretion.

Bren, 66, contends the changes reflected Melvin's wishes.



 

ADVERTISEMENT

  • Hey Sheila
    Please identify yourself. You seem to know alot about the Simon's and we'd like to get your input for a story. Thanks.
  • Hope she can sell it, because---
    the Hilbert mansion will not sell and it was first listed at a paultry $26,000,000.
  • ARE THAT DESPRATE FOR MONEY
    BREN, ARE YOU THAT DESPRATE FOR MONEY YOU SELLING EVERYTHING YOU GET YOUR HAND ON? YOU KNOW THE JUDGE GOING TO RULE IN DEBORAH FAVOR, THAT WHY YOU TRY SELL PROPERTY. SEE WHEN YOU DO PEOPLE WRONG COME BACK AND BIT YOU IN BUTT.

    Post a comment to this story

    COMMENTS POLICY
    We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
     
    You are legally responsible for what you post and your anonymity is not guaranteed.
     
    Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
     
    No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
     
    We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
     

    Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

    Sponsored by
    ADVERTISEMENT

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
     
    Subscribe to IBJ
    1. I still don't understand how the FBI had any right whatsoever to investigate this elderly collector. Before the Antiquities Act it was completely legal to buy, trade or collect Native American artifacts. I used to see arrow heads, axes, bowls, corn grinders at antique shops and flea markets for sale and I bought them myself. But that was in the late 60's and early 70's. And I now know that people used to steal items from sites and sell them. I understand that is illegal. But we used to find arrow heads and even a corn grinder in our back yard when I was a child. And I still have those items today in my small collection.

    2. I lived in California and they had many of the things noted in the proposed suggestions from the "Blue Ribbon Panel". California is near financial collapse now. Let's not turn the great state of Indiana into a third world dump like California.

    3. The temporary closure of BR Avenue will get a lot of attention. But, one thing reported by the IndyStar really stands out to me, and is extraordinarily depressing: “Police also have agreed to crack down on noise violations, traffic violations and public intoxication.” In other words, the police have generously agreed to do their jobs (temporarily, at least), instead of just standing around waiting for someone to call 911. When is someone in this department going to get off their fat arse (looking at you, Chief), get their minds out of 1975-era policing and into 2014, and have his department engage in pro-active work instead of sitting around waiting for someone to be shot? Why in the hell does it take 7 people getting shot in one night in one of the city’s biggest tourist destinations, to convince the police (reluctantly, it would appear) that they actually need to do their f’n jobs? When is the Chief going to realize that there’s a huge, direct, proven correlation between enforcing the law (yes, all laws, especially those affecting quality of life) and preventing larger crimes from occurring? Is it racial BS? Is that what this extraordinary reluctance is all about? Is the department and the city terrified that if they do their jobs, they might offend someone? Whom, exactly? Will the victims of violence, murder, assault, rape, robbery, and theft be offended? Will the citizens who have to tolerate their deteriorating quality of life be offended? Will the businesses who see their customers flee be offended? Or, is it simple ignorance (maybe the Chief hasn’t heard about NYC’s success in fighting crime - it’s only the biggest g*&#am city in the country, after all)? Either way, Chief, if you don’t want to do your job, then step down. Let someone who actually wants the job take it.

    4. I thought Indiana had all the funding it needed for everything. That's why the state lottery and casino gambling were allowed, as the new tax revenue would take care of everything the state wanted to do.The recommendations sound like they came from California. Better think about that. What is the financial condition of that state?

    5. I was a fan of WIBC in the morning, Steve was the only WIBC host that I listened too, he gave the news with so much flare that I enjoyed listening to him on my way to work. Katz is no Steve. Sadly, I will not be listening to WIBC anymore.

    ADVERTISEMENT