Lee Iacocca’s longtime Bel-Air estate sells for $27.7 million

The longtime home of Lee Iacocca, the late automobile visionary who developed the Ford Mustang and saved the Chrysler Corp. from bankruptcy, just traded hands in Bel-Air for $27.7 million.

Iacocca lived in the home for nearly three decades, entertaining guests such as Frank Sinatra and Ronald Reagan, before he died in 2019. His daughter sold the estate a year later for $19.5 million to Lilly Ghalichi, a reality TV star who appeared in the Bravo show “Shahs of Sunset.”

The sale marks a quick and successful flip for Ghalichi. She and her husband, Dara Mir, renovated the interiors during their two-year stay before listing it for $32 million in April and landing an offer less than a month later.

Italianate in style, the mansion is hidden behind gates at the end of a long, tree-lined driveway near Hotel Bel-Air. Four columns frame the entry, which leads to a grand foyer with double-height ceilings.

The 10,700-square-foot floor plan also holds six bedrooms, seven bathrooms and a handful of formal spaces such as a wood-paneled den and temperature-controlled wine room. Second-story balconies overlook the landscaped grounds complete with a swimming pool and tennis court on over an acre.

Tyrone McKillen and Andrew Hurley of Compass held the listing. Ginger Glass and Christopher Cortazzo, also with Compass, represented the buyer.