Billionaire tech investor Peter Thiel is reportedly hanging it up in Silicon Valley, permanently moving to Los Angeles to escape the Bay Area’s left-leaning politics.
He should be well-situated in his new city; records show the 50-year-old bought a 5,870-square-foot home in Hollywood Hills West for $11.5 million in 2012.
Set above the Sunset Strip, the estate holds four bedrooms, five bathrooms and features a Hawaiian Islands vibe full of indoor-outdoor living spaces. The 1.25-acre grounds include a swimming pool and two driveways that exit to different streets, a rarity for the area.
The trendy Hollywood Hills West neighborhood boasts a variety of homes, ranging from 1920s Spanish-style spots to modern mega-mansions.
It’s bordered by Studio City to the north and West Hollywood to the south, and has a history of attracting celebrities. Thiel’s current and former neighbors include actor David Schwimmer, director Bryan Singer and actor David Faustino.
Prior to Thiel’s ownership, the home last traded hands for $4.5 million in 2002, according to public records.
The house is in a hot area. In the 90069 ZIP Code, based on 13 sales, the median sales price for single-family homes in December was $2.485 million, up 7.1% year over year, according to CoreLogic.