A Mysterious Crypto Billionaire Just Snagged This LA Mansion for a Record-Breaking $83 Million

A hilltop mansion in Los Angeles with a retractable roof and two panic rooms sold for $ 83 million, breaking records for residential property on the west side of Los Angeles.
Although the home was never officially put up for sale, it was once marketed as a $ 88 million listing and was also available for short-term rent at the start of the COVID-19 pandemic, asking for $ 350,000 per month. Real estate sources say the new owner's fortune comes from his cryptocurrency holdings, although the billionaire buyer's name - and whether he has already moved into the wildly flamboyant mansion - remains a public mystery for now.
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An aerial view of the huge property with a scenic view. - Photo credit: Simon Berlyn
Simon Berlyn
Crypto tycoons are a relatively new phenomenon, but they have already started to break into the most noticeable sector of the high-end real estate market, particularly in Los Angeles. In May, a Hollywood Hills mansion for $ 28.5 million was sold to Coinbase's first employee, Olaf Carlson-Wee. Last year, well-known Bitcoin billionaire Josh Jones, founder of the briefly largest Bitcoin exchange in the world, lost $ 25.8 million on a brand new property in Brentwood. And in May, hedge fund manager and top crypto investor Jeffrey Feinberg bought another property in Brentwood for $ 44 million, $ 1 million above the asking price. Forbes estimates that there are at least 12 official cryptocurrency billionaires worldwide.
The Palisades House was built over several years at undisclosed but certainly exorbitant costs and is the largest and greatest product to date from LA mega-mansion developer Ardie Tavangarian. But it's certainly not his first contact with billionaires - in 2019 he sold a similarly flamboyant Bel Air home for $ 75 million to Liang "Johnson" Zhang, a Chinese heir to a mainland mining and real estate fortune. And last year, Tavangarian paid a combined $ 61.9 million for four Elon Musk Bel Air homes.
Speaking of Musk, it was reported that he toured the Pacific Palisades Project in early 2020 when it went up for rent for the aforementioned $ 350,000 per month, but it's not clear if he - or anyone else - actually was has made the real estate leap.
The indoor-outdoor design of the house allows guests to see the pool and horizon from the inside. - Photo credit: Simon Berlyn
Simon Berlyn
On the westside of LA, an area commonly considered the Palisades, Brentwood, and Santa Monica, the $ 83 million deal blasts every other registered sale out of the water. In fact, the next-priced deal wasn't signed until earlier this year when a historic Santa Monica property was transferred for just under $ 49 million - more than 40% less than the unprecedented Palisades price.
Records show that Tavangarian bought the one-acre headland in 2013 for $ 7.3 million. Located at the end of a quiet cul-de-sac in the Pacific Palisades Riviera, the place is surrounded by green hills and famous neighbors. Right next door is the $ 26 million primary residence of Tom Hanks and Rita Wilson; Also on the same street are properties owned by Sam Harris (from the Making Sense podcast) and the great financier Matt Barrett.
High-tech devices are a central theme on the property; The master suite on the upper floor is accessed via a retinal scanner, a la a la James Bond film. In addition, the master bedroom has a unique retractable roof that reveals a view of the starry sky either through a huge open sliding roof or through the protection of glass. And while it doesn't seem like the most practical feature, the ceiling doubles as a projection screen and shows movies for people relaxing in bed.
The seductive bar in the house, accentuated with shelf and counter lighting. - Photo credit: Simon Berlyn
Simon Berlyn
Additional amenities include state-of-the-art smart home and security systems, a well-stocked wine cellar, and a garage with a car turntable that doubles as a dance floor and ballroom.
Outside, the property has a curved wall worth $ 2 million that appears to rise straight out of the infinity pool. There is also a party-friendly spa with space for a dozen guests, several cabanas, outdoor loggias with plenty of space for outdoor entertainment and a “sauna room” with a view of the surrounding mountains.
Inside, the 20,000 square meter showpiece offers six spacious bedrooms. Inexplicably, there are a whopping 18 bathrooms too - maybe over the top, but certainly practical.
See more pictures of the property below.
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
Pacific Palisades Mansion
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