Silicon Valley money picks up L.A. trophy homes
Nothing like a splash of tech/Internet entrepreneur money to pick up the local real estate market.
Making tsunami-like waves so far this year are three Westside transactions:
Billionaire venture capitalist and hedge fund manager Peter Thiel cherry-picked a house in the Hollywood Hills this spring for $11.5 million. The early Facebook investor and PayPal co-creator bought a 1.25-acre property containing a 6,000-square-foot view house with a swimming pool.
Gateway Computer co-founder Ted Waitt picked up a nearly 11,500-square-foot mansion in Bel-Air this summer for $14 million. The six-bedroom Mediterranean sits on a promontory of more than an acre with a guesthouse and views from downtown to the ocean.
Then last month, 31-year-old twin entrepreneurs Tyler and Cameron Winklevoss bought a newly built contemporary house in Hollywood Hills West for $18 million. That’s quite a chunk of their $65-million cash-and-stock settlement from 2008 over claims that Mark Zuckerberg stole their idea to create Facebook. Some local real agents believe they overpaid for the tricked-out party pad.
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