–
Bay, who was hoping to pick up around $13.5 million for the three-story, 7, 919-square-foot property, eventually had to settle for two million dollars less.
–
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
–
Michael Bay has reportedly put one of his Bel-Air properties up for sale. The property , one of the most prestigious in the area, was designed by one of California’s best-known architects the late Jack Warner, whose company also designed the famous Bel-Air Country Club.
The property, covering just less than 8, 000 square-feet, comprises a family room complete with its own bar, an extensive home theater, wine cellar, four bedrooms and no less than six bathrooms, sitting on one-acre of its own ground, and includes a swimming pool shaded by mature trees.
According to unofficial reports the lucky buyer is New York property developer Zach Vella , who has been gradually acquiring a portfolio of commercial and residential properties initially in the East coast, although recently he has been focusing his activities more on the West Coast.
Although Bay won’t be too overwhelmed with the $11.45 million that he finally got for his property, which he only put on the market in December of last year, he is still showing a tidy profit from the around $5 million that he paid for it back in 1999.
Michael Bay is well known for his high impact box office blockbusters, such as Armageddon, which he produced way back in 1998 and Pearl Harbor three years later. Michael Bay’s films are reported to have grossed over three billion dollars world-wide.
Bay also produced the remakes of such cult horror movies as The Amityville Horror, A Nightmare on Elm Street , two Texas Chainsaw Massacre films and the Friday the 13th series movies through the Platinum Dunes production company of which he is the joint owner.
–
