LA's Biggest Spec Developer is on FIRE
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- Опубликовано: 6 авг 2023
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Ramtin Ray Nosrati has been building luxury homes in the LA, Brentwood, Beverly Hills, and Bel Air area for years now. Many of these homes are built on spec, which is a dangerous game for a luxury real estate developer, but Ramtin has the recipe down to a science. His latest home, nicknamed "Allure" is priced at just under $30,000,000. And it of course is loaded with every amenity you could imagine. In today's episode we review this amazing luxury mega mansion together, and at the end we dive into my guess on how much Ramtin will make on this deal.
I hope that you enjoy this video and if you have comments please leave them below! See you next video!
-Scott
#luxuryrealestate
Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. Opinions shared in these videos are my personal opinion and are for entertainment purposes only. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel. 
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Nosrati always prices his homes somewhat reasonably, unlike a lot of developers.
For sure! I mentioned that towards the end of the video. He’s not just picking some random crazy high price
@@Real.Estate.Reportthose 8s in the price tags are not a coincidence. I’m guessing they’re there to appeal with the Chinese markets
I like the Moss Walls. It really helps to see some green in the interior space. Plus I love how he chose neutral earth tones in relation to the wood floors. Very nice outside too. Loved that movie theatre. Great design too out in front. It is so much work to complete these houses. Lots of stress too like you said.
3000 square feet master suite is insane lol. this house is epic
I’d love to build a house like this some day… for now I’ll just drool over these listings
Make friends with bankers.
Beautiful home. Great video Scott!
Moss walls have only been around for a few years now I’ve built and installed a few in Scottsdale and Phoenix and the cost of them is a lot less than you would think compared to pieces of art and they require little maintenance
Thats awesome. I'd love to check one out next time you do an install.
what an incredible house. might be my favorite that you've highlighted
He does such a great job
I think Ardie Tavangarian is the better developer. He builds these warm and natural feeling homes that command huge numbers, while always staying away from the limelight unlike some of his more notorious peers.
Good point, Ardie is amazing too. I admittedly sometimes forget about him because he is so much more low profile! But he does very good work.
@@Real.Estate.Report And he only puts out about one house biennially
Beautiful Ray Nosrati mansion, the secret of Ray Nosrati success is that he is a good businessman that prices his mansions reasonably. His mansions cost between $15 million dollars to $40 million dollars compared to Nile Niomi's $500 million the One mansion and the other top developers' $60 million and $75 million mansions.. The 1033 Sommera Road master bathroom is one of the most beautiful and innovative bathrooms I have ever seen. The shower looks like a blue throne and the vanity and sink are in the middle like a kitchen island and the mirror is on the wall.
I like when Ray explains to Josh Altman in a video that the moss plant feed on moisture it doesn't need watering. My only complaint about Ray's beautiful mansions is that the fireplaces in the living room and master bedrooms block the view.
Fun to go back to 2007 in Google Maps to see what used to be at this address. It’s a new day for sure. Even with lottery money I’m way too simple to live in that much space - I guess I could chat with staff??!! 🤣
Yeah the old property is VERY different! And I agree. Love the style, but too much house for me even if I hit the lotto.
Thank you for sharing this real estate property.
Great job!! 👏
My favorite one ever since I saw it (idk when, not on this channel, wanna say the Entourage movie)
My favorite notification
Wow that’s awesome to hear… glad you’re enjoying the videos 👍🏻
Love his style and bang for the buck
Nosrati prices homes well but most of them are in Bel Air (easier to built, unlike in Beverly Hills with crazy build codes--but it's good for us, buyers, it's better in BH as most of them are up to "code". I like that! Your friend from Beverly Hills. Let's connect. I have a real estate proposal to you.
Interested in hearing about it, please email me scott@scottedwardrealestate.com
His houses are awesome, his house at 950 kenfield is my favorite
Properties at these prices usually don't sell for list so I don't know about that $4 million pay day especially now that rich people are leaving California.
Hey Scott,
Check out 11870 Ellice St, Malibu. It started at $75 million last year. Just got auctioned for $26 million.
Also 1035 Stradella got auctioned for $18 million down from $32 million.
Thanks for the tips! I did do a video about 1035 Stradella but hadn’t heard about Ellice... Will check it out.
Ellice street is said to be very noisy with the traffic sound.. Perhaps overrated
I think the houses are very nice, but if the numbers you provide are any indication, the house is only making a little more than 15% for 2 years worth of work. $4M is a lot of money, but if carefully invested, the money used to build the house could have made 20% or more on the stock market on a good set of years. The one thing you might say about the designer is that it may be a labor of love to design and build these houses. On the plus side, Nosrati seems to understand the LA housing market and is offering competitive prices to help sell his units. I hope he does well with this house.
One agent said his contractor reported that Nosrati's homes are not gonna last very long because of the materials used..(something like that) structures and stuffs
J’aime beaucoup la moustache à la française 😊✅🇺🇸🇫🇷
Thank you haha! I have fun growing it out every once in a while. But then it starts to annoy me and I shave it off.
@@Real.Estate.Report Distinguishe American real estate agent ✅😊
@@Real.Estate.Report how the F you know what he/she said ?
@@jesvans Google Translate works if you don't speak a foreign language
Great house, great price, W developer
Wow.... a $29 million " spec" home. Thats amazing they can build that without a buyer on the front end
It's pretty wild!
Love the style but the size and the marble are too much. I don't have that many friends or family that I need that much space. The marble is one of those things that I know is coming back in style from other current builds you've highlighted on here but it is not my thing. Overall super cool house for those who can afford it and the upkeep will be next level. That moss wall and master suite are next level not to mention the gym. Crazy!
Yeah he goes wild with the marble. I like it but understand some people will think it’s over done.
Maybe you have noticed but he is selling these properties at drastically low prices (yep, a fire sale).
nice place, i could do that. and you know it is "much nicer" in person.
Yo, do you have a course for real estate investment properties? I know on your last vid you mentioned a course for first time home buyers, but I was wondering if you have a course or could direct me to a course on investment properties. I trust you judgement more than many others I see online. Thanks for the great content!
I do have a real estate investing course that I finished last year. Put a lot of time into it but not promoting it right now due to the focus on that first time home buyer training.
Please email me at scott@scottedwardrealestate.com I’ll get you the link and more info
sheeeesh. . .that 🏠cost a bag🤭💰
It sure does! But not a bad deal for what you get!
His houses are modern with blend of the old they are good plus they are price good he will make more money its a winning formula😊😊
Yeah, I agree about the details otherwise you get trapped in a cookie cutter home, a very expensive cookie cutter home.
Bruce Makowsky probably still made a nice profit from that house even with that huge discount, He bought the land for 11million and that house cost 50million max and remember, the furnishings were purchased separately from the 94million sale
Bruce Makowsky said he had 2 bigger projects after 924 bel air rd, I wonder what happened...
I wonder too... haven't heard anything about him since then
🕷 These living walls got to be Bug Real Estate ... The living wall & White Oak everything is all the rage ... His Spec homes do look homely
I wonder what the moss does to air quality inside the house?
That’s a great question. Hadn’t thought of it but just did a little googling and a quick search says that moss walls help remove toxins from the air and replace it with clean, fresh oxygen. Crazy..
I would think also the moss is a great way to dampen echos in a home like this with many reflective hard surfaces.
Scott us correct that moss walls improve the air quality in a home. They require very little maintenance.
air quality ? you kidding. just imagine trying to mow that !
@@jesvans Mowing the moss?!?! You are too funny.
I mean every time i see all these megamansions I think myself, that would be amazingan place to live in..but if they would shirnk it 10x in size :D
Unless you need to be throwing business events regularly, I honestly don't get it. I mean the whole LA modern mega mansion thing. Not to mention there's ZERO concern by the owners of these places for the environmental costs associated with that much sq ft. There really must be a lot of successful yet insecure people out there lol. Honestly, I think most of us could build something incredible with just $5M, the right lot, and the right architect and designer
very nice but its la ,, pass now if it was Del Mar ,La Jolla, coronado , near or on the beach
I’ve honestly never been a fan of Nosrati’s houses. He seems like a pretty typical “white box” luxury builder that is always a step behind on design finishes. I think he’s probably found some success because his homes are usually packed with amenities and prices reasonably so probably appeal to a younger buyer looking for a lot of bang for their buck.
I think this house is a different story though - it’s sick! He seems to have sprinkled some unique finishes that aren’t super cookie cutter and as always, he nails the amenities and outdoor space.
Couple side notes - one, I know the moss walls are his calling card, but I think they’re played out. Gives me shitty Scottsdale airbnb vibes.
Second, what’s up with the book matching on the bar? It almost doesn’t even look like it is bookmatched.
I agree with your sentiments. The moss walls turn me off, as do the fan boy sports court. Sometimes developers have too many features that buyers didn't ask for and don't want, and it's a turnoff. Michael Jordan couldn't sell his house for years because it was too personalized for him, and a generic buyer doesn't want that stuff.
Most of his finishes are out of the box, but hear able to do so well because he gets the land for cheap so he can price his properties exactly at market value
so "normally" I can not Stand this type of design... i.e. the One... makes me shake my head... the ultra modern contemporary style... YUCK! with that being said... I have to admit that I do like his style....cabinetry totally sucks, as I do not want my kitchen in my 29 Million dollar mansion to look like something in a commercial office building breakroom... the rest of the house is so well done, but gawd the kitchen.... the moss walls are amazing and provide awesome benefits and are pretty low upkeep and help control humidity...over all, this place is amazing and the 29 million price tag is much less than I would expect... thanks for sharing Scott!
Enez already house tour this
Yes he did
$1200 per sq. ft. on hard costs???? That can't be right, dude. An acquaintance of mine in Boston is building high rise apartments for $300 per square foot, so you're either way off on your estimates or west coast construction is the most expensive in the world.
Not to be intrusive but do you mind giving us a breakdown of your hard and soft costs + land on your spec mansion?
I might have been high on my estimate. But it’s got to be at least $1000 per square foot based on what I know about developing in LA. Building a LA home decked out with these amenities and details, plus dealing with hillside requirements (caissons, etc) is ridiculously pricey.
I’ll be talking about my costs on my spec in a future video.
Too much wood for me
No hate at all and taste is surrely different but in my opinion, Nosratis homes always have a tacky note. Don't like the finishes neither all the overally use of wood planks along the house and last but not least the "art".. Just my two cents
Hey we all have different tastes. It’s a unique and specific look so I expected some people to not love it
FAR better than "all white"
And then Nosrati will pay about 50% of that 4Mil in income taxes. Speaking of, what are property taxes on an acre or more in Cali? 20k a year?
Good point on the income taxes. Property taxes with be around 1.25% of the purchase price I believe.
@@Real.Estate.Report so $375,000 in annual property taxes? Or did I math that wrong?
I like juicy gossip
To invest all that money and time over 20 million that's a lot of risks, just to make 4 million, he could of just invested in the stock market and made more
You think he wanted to have 3 specs on the market that won’t sell? He ruined his reputation with the $44 mil home. Also his build cost is no where near $1200 a guy. $800 tops. And he’s using all OPM. None of his capital.
Id be surprised if he could build hillside homes of this caliber for $800 a foot. I could be wrong though. Also would be very surprised if he was receiving 100% financing on these deals. But sounds like you know him better than me…
He can’t sell any of them 🤷♂️
a a
I don't like his properties. Just too garish with their features.
"Is on fire" is the most vague phrase ever. It may either mean you are just killing it and winning OR you are literal disaster and a metaphorical dumpster fire.
Lol good point. Maybe that’ll make people curious enough to click on the video to see what I meant!
I love their house but in some point they all look like the same...
Ramtin Ramadan is probably the tackiest most cringe developer in the history of LA mansion. He’s not no class, I mean he’s the opposite upscale Scandinavian / OC class. I can’t stand his tacky taste. 🤢 I think even the most boujee rappers will refuse to live in Ramazan’s tacky homes
I just really really really dont like nosrati style at all it seems like a minecraft diamond home