Real estate developer Mohamed Hadid once scoffed at the idea of tearing down the colossal mansion that had landed him in criminal court. Now a court has ordered that the mega-mansion must, in fact, come down.
As the legal battle dragged on, city officials eventually
None of what happened to the house would have happened, Hadid said in an email this week, if “I agreed to his extortion.” It is unclear exactly how much the tear-down might cost. Attorneys for Hadid have pegged the cost at $5 million, while others have suggested it could be lower. At Friday’s hearing, an attorney representing the court-appointed receiver said they would assess the costs and come up with a demolition plan.One of the attorneys representing Hadid argued that the city should have to pay for the tear-down, citing a specific provision in city codes about abating a “public nuisance.
Karlan said that doesn’t mean that Hadid won’t end up paying, stressing that Hadid had signed a guarantee on the property. First Credit Bank, which loaned some of the money for the Bel-Air project, has not yet decided whether it will try to recover money from the developer, its attorney Michael Fazio said Friday.
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