Now that the news is out that “billionaire” Mohamed Hadid is broke, he is thinking about tearing down his Bel Air mega-mansion and selling it as parts. The father of supermodels Gigi and Bella no longer can get together the measly $500,000 he needs to keep his life in order despite having the reputation of being a mega-rich billionaire. Although Hadid, like Trump, claims to be a real estate tycoon, the man’s lawyer claimed in court on Wednesday that he doesn’t even have enough money to tear down the controversial mansion that he started to build, but never finished.
Los Angeles prosecutors have urged Hadid to demolish the ugly mansion that was built the “Starship Enterprise” because it’s massive. Although Hadid abandoned the project halfway through, his lawyers claim that the “billionaire” doesn’t even have the cash to tear the building down per the demands heard in the Santa Monica courtroom.
The 71-year-old billionaire simply “can’t afford” to demolish the failed mansion. Hadid’s attorney, Bruce Rudman, stood before the Los Angeles Superior Court Judge Craig Karlan and revealed the truth about the real estate tycoon’s failed finances.
Judge Karlan, in the judge, presiding over the civil lawsuit that forces the father of supermodels Gigi and Bella to defend himself. The plaintiffs are the neighbors who are forced to look upon Hadid’s eyesore of a mansion and are demanding that the unfinished building be torn down if Hadid is never going to finish what he started.
The neighbors asked a receiver to take over the demolition of the house. However, Hadid’s attorney claimed that the man didn’t even have the money to pay the $500,000 upfront fee to make that happen.
Rudman said that “He doesn’t have the money.”
The neighbors’ attorney, Ariel Neuman, said they want the “eyesore” torn down since Hadid has failed to finish construction of the mega-mansion.
Neuman told the Santa Monica court, “It’s amazing to me because (Hadid) just bought a multi-million-dollar home in Beverly Hills. We don’t accept this explanation. We don’t accept Mr. Hadid’s word for anything.”
While the neighbors call Hadid a lair, he tries to wipe his hands clean of this failed experiment in the hills of Santa Monica.
Rudman tried to explain that Hadid is broke. He said that Hadid could take a loan to knock down the house and build another in its place, but that would cost $30 million. While he could get a loan of that amount, he would not be able to do it without the city’s Building and Safety Department guaranteeing the permits to build the new house, which is something the city is not going to do for Hadid who keeps falling back on his word.
Hadid’s mansion was an illegal mess. He tried to build an illegal third-floor pool deck and use illegally grade slopes and unapproved retaining walls. If something went wrong, Hadid’s failed experiment could fall down onto neighboring properties and destroy them.
Hadid’s architect said, “I’m worried that building will slide down the hill and kill someone.”
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