Kola Aluko, the oil tycoon linked with Nigeria’s former oil minister, Diezani Alison Madueke has sold one of his homes in Los Angeles in the United States at a loss.
Listed as one of the 10 most expensive luxury homes in Los Angeles in 2013, the house sitting on 0.7 acres at 730 Sarbornne Road, was sold by a limited-liability company with ties to the Nigerian oil magnate, reported Neal J. Leitereg for Los Angeles Times at the weekend.
The sale deal was closed off-market, with Aluko pocketing $21.5 million, $2million less than what he paid less than three years ago.
Aluko had bought the house in October 2013 at a discounted $23,500,000 price. It was listed then at $29,000,000.
Designed by architect Paul McClean and built in 2011, the contemporary-style showplace sits on more than an acre, with a gated entrance, a subterranean garage, and a 132-square-foot infinity-edge swimming pool.
The 15,000 square feet of interiors feature walls of glass, 16-foot ceilings, marble walls and Italian fixtures throughout. A wood-paneled library, wine cellar, and screening room are among the amenities.
The house previously sold four years ago for $24.5 million, property records show.
Film producer and speculative real estate developer Nile Niami, who is building a $500-million compound in Bel-Air, was the developer.
This was how the house was described by www.pinnaclelist.com in 2013:
“A lyrical representation of a regal Italian Villa, the residence at 730 Sorbonne Road was built by Architect Tim Morrison to capture the glamour and refinement of the Golden Era of architecture, reminiscent of the grand old estates of Bel Air. An extraordinary example of great Italianate architecture, the extravagant gated estate is sited on a sprawling, steeply sloped, street-to-street lot that offers magnificent city and ocean views.
“The 19,485 Sq. ft. 9 bedrooms, 14 bathroom residence includes a 3-storey elevator equipped primary villa that includes three principal guest/family bedrooms on the upper floor, plus an exceptionally spacious 2,200 square foot master suite.
“The lower level features three additional bedroom suites, a media room, gym, and staff quarters. The private/lush grounds include an incredible outdoor living room overlooking an open-air infinity pool with head-on city views. An 8-car garage with a mosaic-tiled car wash finishes off some of the patently bespoke extreme luxury refinements presented in this architectural triumph”.
Aluko, who at present stays in Switzerland, has other homes in USA. Just before he bought the Los Angeles mansion in October 2013, in July of the same year, he shelled out $8.62 million for a four-bedroom duplex condo on Fifth Avenue in New York City.
He also spent just over $40 million last year to buy two top-of-the-line properties in Beverly Hills area.