Business · India Bureau
Squishmallows creator seeks $38M for Bel-Air mansion bought at $26M
Jonathan Kelly, founder of the wildly popular Squishmallows plush toy brand, has listed his sprawling Bel-Air estate for $38 million, less than two years after acquiring the property for $26 million. The move represents a significant markup on the luxury real estate investment.
LSN India ·
Kelly's decision to list the 16,850-square-foot mansion comes after acquiring the Bel-Air property in 2023 as an investment property. The estate, situated on a golf course, has been a source of rental income, highlighting its appeal to affluent buyers seeking luxury residential assets in Los Angeles.
The listing price of $38 million underscores the continued strength of the ultra-luxury property market in the exclusive Bel-Air enclave, which attracts wealthy investors and entertainment industry figures seeking premier residences.
Squishmallows, the plush toy line created by Kelly, has become a global phenomenon, generating substantial revenue and establishing Kelly as a significant figure in consumer product development. The timing of the mansion listing reflects broader trends in luxury real estate, where high-net-worth individuals leverage property portfolios alongside their primary business ventures.
The Bel-Air property's premium amenities and golf course positioning position it to attract high-net-worth buyers in one of Los Angeles's most coveted neighbourhoods. Industry observers expect the listing to garner significant interest from the region's competitive luxury real estate market.