Property records reveal that after nearly two years, Snapchat billionaire Evan Spiegel has finally closed the deal for his new Los Angeles home to the tune of $120 million. The long escrow was due to a multi-year rebuild that the property is currently still undergoing.
Spiegel also paid an additional $25 million for a smaller portion of the land located right next door to the main property, escalating the total price he paid for the estate to $145 million. The lofty number makes this property one of the highest prices ever paid for a California home, right behind other tech billionaires like Marc Andreessen, Jeff Bezos, and Lachlan Murdoch.
Located in Holmby Hills directly across the street from the Playboy Mansion, the four contiguous acres were sold to Spiegel by British billionaire Ian Livingstone, who acquired the two-parcel estate in two separate transactions in 2014 and 2017, paying $72 million.
Livingstone combined both properties into one supersized estate and then began a rebuild of the entire place. The property is also in the same neighborhood as fellow tech billionaire Sean Parker, and one neighborhood over in Benedict Canyon, Amazon founder Bezos owns a $175 million estate.
In 2004, Kenneth “Babyface” Edmonds and his former wife Tracey Edmonds sold the Holmby Hills mansion for $21.3 million to Frank and Jamie McCourt, the then-owners of the Dodgers baseball team. After a complete renovation and expansion – including the installation of an Olympic-length indoor swimming pool, Jamie McCourt sold the property in 2014 to Livingstone.
While Spiegel and his wife, model Miranda Kerr, await the completion of their new abode, the couple is living in a $12 million mansion located in Brentwood which was previously owned by Harrison Ford. The successful pair also maintain a $30 million villa in Paris, a vineyard estate in Australia, and a seaside vacation home in Malibu. The Snapchat CEO also still owns the first house 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 repped the buyer.