Bel Air Casa Encantada Estate Sold for $130 Million
The 40,000-square-foot mansion reached its sale price at a July 2026 foreclosure auction.
Updated on Sept. 29, 2026 in Residential
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In July 2026, the historic Casa Encantada estate located at 10644 Bellagio Road in Bel Air was sold at a foreclosure auction for $130 million. The massive property, which features 40,000 square feet of living space on 8.5 acres, was purchased by Peter Thiel.
Why it matters
The sale follows a high-profile foreclosure process triggered by loan defaults exceeding $150 million. This transaction marks the latest chapter for a property that has seen its valuation climb significantly over the last several decades.
The property includes a 40,000-square-foot residence set on 8.5 acres, which sold for $130 million following default on loans exceeding $150 million. This sale price represents a significant increase from the $94 million paid in 2000 and the $12.4 million recorded in 1980.
The players
Peter Thiel
The technology entrepreneur and venture capitalist who purchased the estate.
Gary Winnick
The late financier and former owner of the Casa Encantada estate.
Karen Winnick
The former owner of the estate who held the property alongside her husband.
The details
The estate was sold through a foreclosure auction held at Pomona's Civic Center Plaza after the owners, Gary and Karen Winnick, defaulted on substantial loans. The buyer completed the purchase through a limited liability company. Plans have been announced to renovate the historic mansion, which currently contains seven bedrooms.
Timeline
The estate previously sold for $12.4 million in 1980.
The property sold for $94 million in 2000.
Former owner Gary Winnick died in 2023.
The foreclosure auction took place in July 2026.
The Home Front
This sale underscores the continued high-end demand for expansive Bel Air acreage despite the volatility that led to the foreclosure. It follows the pattern of historical prestige-property turnover established by the 2000 sale of Casa Encantada.
Homeowners in the region should track how high-value foreclosure sales influence local property tax assessments and surrounding area market activity. Large-scale estate renovations, such as those planned here, often require additional city-level planning permits and inspections.
The takeaway
Large-scale residential real estate can remain subject to extreme valuation swings due to debt structures and ownership changes. Always verify that any major property renovation or structural change is managed by licensed professionals who have confirmed the necessary local permits.
Further reading
For more information on the local luxury market, visit the Residential section.
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