Home News Bel-Air Mansion Lists for $150 Million, More Than Double What Owner Paid Two Years Ago

Bel-Air Mansion Lists for $150 Million, More Than Double What Owner Paid Two Years Ago

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George Ruan, co-founder of online coupon company Honey, has listed his modern Los Angeles mansion for $ 150 million.

According to compass listing agent Aaron Kirman, this ½ acre site is located on the cape of Bel Air with 360-degree views of Los Angeles. Ruan co-founded Honey in 2012 to help consumers find discount codes for online purchases. The company was acquired for about $ 4 billion.

PayPal Holdings

In 2020.

That year, records show that Luang bought the property from the developer’s viewpoint collection for $ 60 million. Kerman said Luang had purchased an unfinished house of about 21,000 square feet and completed a major renovation.

Designed by South African-based architectural firm SAOTA and Woods + Dangaran in Los Angeles, the main building is covered with concrete. There is a theater and library on the main floor, and there is also a dining room where wooden panels rotate to close the room. Downstairs, there is a gym and spa with a Japanese pool, Mr. Carman said. It has a total of 9 bedrooms and a separate 1 bedroom guesthouse with a staff area and a private pool.

Carman calls the property the “ultimate entertainer’s pad,” with an infinity pool, outdoor kitchen, cabana area, and sunken fire pit.

View of the infinity pool, outdoor lounge area and sunken fire pit.


Photo:

Matt Montburger

Carman said Luang has never lived at home and is currently selling because he spends more time outside Los Angeles. The asking price reflects the work Luang did to complete the house.

“A lot of money, time and energy was spent bringing it to its current location,” he said. “It’s a rare property.”

According to appraisal firm Miller Samuel, prices at Bel Air and Holmby Hills hit new highs in the first quarter of 2022. Average single-family home sales for the quarter were $ 11.6 million, an increase of more than 175% year-on-year.

Home sales exceeded $ 100 million last year take off Thanks to the surge in wealth created by low interest rates and rising stock markets. In Malibu, venture capitalist Marc Andreessen and his wife Laura Ali Laga Andreessen paid a record $ 177 million to a home and two guesthouses of about 10,000 square feet. Coinbase Chief Executive Officer Brian Armstrong

bought $ 133 Million Los Angeles Real Estate.

Kerman said the ultra-luxury market has cooled in the volatility of the stock market. “People are paused,” he said. “They want to see where things are,” he said, but prime properties are always in demand.

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