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Property records reveal that after nearly two years, Snapchat billionaire Evan Spiegel has finally closed the deal for his new $120 million Los Angeles home. The long sequestration was due to a multi-year reconstruction that the property is currently still in progress. Spiegel also paid an additional $25 million for a smaller piece of land right next to the main property, bumping the total price he paid for the estate to $145 million. The high number makes this property one of the highest prices ever paid for a California home, second only to other tech billionaires like Marc Andreessen, Jeff Bezos and Lachlan Murdoch.
Located in Holmby Hills, directly opposite the Playboy Mansion, the adjoining four acres were sold to Spiegel by British billionaire Ian Livingstone, who acquired the two-plot estate in two separate deals in 2014 and 2017, paying 72 million of dollars. Livingstone combined the two properties into one oversized estate and then began a reconstruction of the entire place. The property is also in the same neighborhood as fellow tech billionaire Sean Parker, and in a Benedict Canyon neighborhood Amazon founder Bezos owns a $175 million estate.
In 2004, Kenneth “Babyface” Edmonds and his ex-wife Tracey Edmonds sold the Holmby Hills mansion for $21.3 million to Frank and Jamie McCourt, then owners of the Dodgers baseball team. After a complete renovation and expansion, including the installation of an Olympic-length indoor pool, Jamie McCourt sold the property in 2014 to Livingstone.
While Spiegel and his wife, model Miranda Kerr, wait for their new home to be completed, the couple are living in a $12 million mansion in Brentwood that was previously owned by Harrison Ford. The successful couple also maintain a $30 million villa in Paris, a winery in Australia and a beachfront vacation home in Malibu. The Snapchat CEO also still owns the first home he ever bought, a $3 million cottage-style home in Brentwood.
The listing agents were Stephen Resnick and Jonathan Nash of Hilton & Hyland. Drew Fenton, also of Hilton & Hyland, replaced the buyer.
Originally appeared on Architectural Digest
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