This flashy Bel Air mansion that was listed at $87.8 million flopped at auction

An over-the-top modern mansion in Bel Air was listed for $87.8 million in an auction this week. But the highest bid came in just under $45.8 million, according to the home’s seller, dermatologist-turned-developer Alex Khadavi. “Horrible, Horrible, Horrible!” was how Khadavi characterized the auction results to CNBC. He filed for Chapter 11 bankruptcy protection two weeks after putting the home on the market last year.
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