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Evan Spiegel has bought a $100 million mansion opposite the Playboy Mansion.

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Introduction

Evan Spiegel has bought a 100 million dollar mansion opposite the Playboy Mansion. There's nothing quite like the current weirdness of the luxury real estate market in Los Angeles. A 100,000 square-foot mansion called The One failed on its construction loans and was thrown into receivership because it could not find a buyer; The One had only recently been built. Football legend Joe Montana has found happiness with a modest home in Malibu that he purchased for $7 million, or one third of his lifetime NFL earnings.

Pierce Brosnan's amazing 13,000 square-foot multi-structure beachfront complex is located directly across the street from Joe's new beach hut. Even though Pierce is without doubt the finest ship available for purchase, he has been unable to find a buyer willing to pay his $100 million asking price. So he's just taken it off the market until he can lower the price.

Dirt.com, a tool that makes quick work of doing your dishes. Evan and Miranda Kerr, who is a supermodel, just forked over $100 million for a building before it was finished. It is located in Holmby Hills.

For the pleasure of being able to spend another 20to20 to 50 million completing the project, they are paying $100 million.

What you see in the photo is a 4-acre block of land which is actually two properties together.

Via the MLS/Zillow/Hilton & Hyland

Evan purchased the first parcel for $25 million back in May, as reported by Dirt.com. That is an acre and a half of property from the two acres you see there, which is still in the middle of building.

For an undisclosed cost, Evan just completed the second acquisition, which contains 2.6 acres of land. The sum for both trades was estimated to be over $100 million.

The English billionaire Ian Livingstone is the vendor of both lots. Ian and his brother Richard started a company in the UK known as London & Regional Properties and based in part on the financial worth they had accrued from their numerous successful retail eyeglass stores. The name may not say much, but London & Regional is a private real estate investor with major operations in Europe. Though L&R is exceptionally secretive, and has not made public the number of assets it owns, estimates place the company's assets at around $10 billion in value. The following are their known assets:

  • David Lloyd Leisure has 85+ locations around Europe.
  • The Park Lane Hilton, on the corner of Hyde Park, has now been sold for around £600 million to a Hong Kong property tycoon.
  • Leicester Square is at the heart of the Empire.
  • Britain's largest healthcare provider, General Healthcare Group, who operates under the U.K. government's National Health Service.
  • At Atlas Hotels, a new micro city will be built on the banks of the Panama Canal.
  • Apartments in many locations, particularly in England, abound.

Ian Livingston bought the property in Holmby Hills, and he did it through two deals that occurred in 2014 and 2017, spending around $72 million (according to Dirt.com). In the picture above, you can see he's working on a home with an estimated total size of over 20,000 square feet, which appears to be only half-finished.

Ian bought the assets previously owned by Jamie McCourt. Jamie and Frank McCourt, her ex-husband, acquired the homes from producer Babyface in 2004 for 21.3million,afterwhichtheyspent21.3 million, after which they spent 14 million on improvements. The two friends of mine made their money in an uninteresting way… They first got rich because of their parking lots in Boston. Using primarily borrowed debt, Frank and Jamie purchased the LA Dodgers in 2004 for $430 million, and after an unsuccessful attempt to buy the Boston Red Sox, their company was saddled with this debt. The decision to move from Boston to Holmby Hills had major implications.

The McCourts became embroiled in a vicious, prolonged divorce in 2009, having been married for thirty years before that. Court documents show that the McCourts paid 202,000 dollar a month in mansion maintenance at the Holmby Hills property. In the end, Frank paid Jamie 130 million in cash to abandon her claims on the Dodgers in exchange for 20 million in legal fees. Even after he had sold all of the couple's houses save for this one in Holmby Hills, two in Malibu, one in Montana, one in Colorado, one in Massachusetts, and one in Mexico, Frank still couldn't bear to be parted from all of them. The final sale price was $2 billion and included members of the Magic Johnson group as bidders.

Imagine if Hugh Hefner's Playboy Mansion were your house. You imagine the most extravagant mansion imaginable, with sprawling, untamed grass and unending grounds, correct? To clarify, I've personally been to the Playboy mansion, and I know that that image is accurate.

Right next door to Evan and Miranda's land is the Playboy mansion. Below is an outline of Evan and Miranda's property, with the yellow areas indicating their estate. The Playboy mansion, which was Hugh Hefner's during his time as owner, is marked in red:

Evan

Here, you can see the old Aaron Spelling estate as it used to be. The home, where the famous producer lived until his death, had once been the largest private residence in the entire county of Los Angeles. I've marked Spelling Manor with blue circles:

Evan

Right. Even incomplete, Evan and Miranda's new mansion is very magnificent.

This 100 million dollar may have been justifiable in this instance. Even if they have to invest another 50 million or more to finish the project, they're probably going to make a profit. They are oblivious to money, because Evan's $13 billion net worth.