Formula 1 heiress buys Spelling mansion for $85 million

July 15, 2011: 5:43 PM ET
spelling-home.top.jpg

Take a look inside the Spelling mansion, which includes 14 bedrooms, 27 bathrooms, a bowling alley, a gift-wrapping room and a rooftop garden.

NEW YORK (CNNMoney) -- One of the most expensive homes of all time, the 56,500-square foot Spelling Manor, sold for a very steep discount Thursday -- $85 million -- or 43% off the original asking price.

The French Chateau-style home was originally listed for a record $150 million by Candy Spelling, wife of the late Aaron Spelling, who was the producer of such hit shows as "Charlie's Angels," "Dynasty," "The Love Boat" and "Fantasy Island."

The buyer was 22-year old Petra Ecclestone, heir to the Formula 1 auto racing fortune. Ecclestone will be moving into the mansion with her fiance, businessman James Stunt, and the couple's dogs. Rick Hilton and David Kramer of Hilton & Hyland Real Estate represented Ecclestone in the transaction

Even at $65 million below the asking price, the deal is one of the highest ever for a single-family home in the U.S. Holding the record is venture capitalist Yuri Milner's $100 million purchase of a Los Altos Hills, Calif. home earlier this year, according to Candice Cerro, spokeswoman for Realtor.com.

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Kramer said the listing had been considerably active while on the market, mostly due to an influx of international buyers hoping to take advantage of depressed prices in the U.S. housing market and a weak dollar.

To pre-qualify buyers, Kramer said he just looked them up online. "If I find them on the 'Forbes' list, often times that will do it," he said.

More famous homes

The Spellings purchased the property from entertainer Bing Crosby in 1991 and later demolished it to build the manor.

Although the home is very large, Kramer said it is also very livable. "There are a lot of rooms you could sit in and really enjoy yourself," he said. "The dining room is stunning, opening to the yard, facing a lily pond. There are all these little vignettes where you just want to be."

The home's other notable features include 14 bedrooms, 27 bathrooms, a projection room, bar, oak-paneled library, office, billiards room, game room, two-lane bowling alley, wine cellar, tasting room, china room, gift-wrapping room, gym, barbershop, beauty salon and rooftop garden.

But Ecclestone was particularly attracted to the grounds, Kramer said. "She and James kept saying 'our dogs will love this.'" To top of page


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