Current Ownership and Property Overview
The Casa Encantada estate in Bel Air, Los Angeles, is currently owned by Richard H. Cohen, a private investor and founder of Canyon Capital Realty Advisors. Cohen acquired the property in 2019 for a reported price of around $74 million, according to public records and real estate reports. The compound sits on roughly 6.5 acres and includes the main villa, guest houses, and extensive gardens. The property is widely regarded as one of the largest and most architecturally significant homes in the United States. For broader context on high-end Bel Air transactions, see the latest data from Forbes.
The estate was designed by architect Russell Brown and completed in 1938 for industrialist Hobart Jackling. Its 20,000 square feet of living space feature classic Georgian Revival details, including grand staircases, marble fireplaces, and period furnishings. The property has changed hands several times over the decades, with each transaction reflecting the ultra-luxury real estate market in Los Angeles. The most recent sale to Cohen marked a return to private ownership after a period of institutional holding.
Historical Ownership Timeline
Key Owners and Transaction Milestones
After Jackling, the home passed through a series of prominent owners, including industrialist J. Paul Getty, who owned it during the 1950s and 1960s. Later, the property was acquired by hotelier and investor Conrad Hilton, whose family retained it for several decades. In the 1970s, the estate was sold to a group of investors, and it subsequently changed hands multiple times, often as a trophy asset in the ultra-high-net-worth real estate market. Each transition was documented in major publications and public filings.
The property was listed by Hilton's heirs in the late 2010s, generating significant media attention due to its size, history, and location. The sale to Cohen in 2019 closed quietly compared to the earlier public listing. Public records indicate the transaction was structured as a private sale, with the final price reflecting the estate's rare combination of historical significance, architectural integrity, and Bel Air prestige. The full chain of title is available through Los Angeles County public records.
Market Context and Valuation
Comparable Sales and Ultra-Luxury Trends
The 2019 acquisition price of approximately $74 million placed Casa Encantada among the top-tier residential transactions in Los Angeles County. Comparable estates in Bel Air and Holmby Hills have sold in the $50 million to $100 million range in recent years, depending on size, condition, and historical pedigree. The property's valuation reflects its 6.5-acre grounds, architectural significance, and location in one of the most exclusive zip codes in the country. Market analysts track such transactions to gauge the health of the luxury real estate segment.
Ultra-luxury real estate in Los Angeles has remained resilient, with high-net-worth buyers continuing to acquire trophy properties despite broader economic fluctuations. The Casa Encantada estate exemplifies the class of assets that attract private investors and family offices rather than traditional buyers. Its current owner, Cohen, has maintained a low public profile, consistent with the privacy preferences of many ultra-high-net-worth individuals. For data on luxury real estate trends, see reports from major real estate research firms.