Two years ago, George Ruan, billionaire founder of the online coupon app Honey, purchased for himself a deluxe mansion in the ritzy Bel-Air neighborhood for $60 million. Now, he's looking to double his money and then some, having placed it on the market for an incredible $150 million, as reported by the Wall Street Journal.
Of course, Ruan was getting a discount when he snagged the property for $60 million, having reportedly purchased it before it was completed, and going on to commission extensive renovations to the home.
It's not known how much he spent on those renovations, but they were apparently quite lavish, as the 1.15-acre property is now described in official marketing materials as "the Pinnacle of Luxury." The listing goes on:
"In the world's most prestigious location, situated on a promontory behind gates, lies this once in a generation offering. With 360 degree views, this private compound is an architectural triumph that redefines luxury living. The chef's kitchen features Miele and Gaggenau appliances, top quality finishes, and honed quartzite countertops. The luxurious master suite has dramatic walls of glass opening to the expansive terrace with the best views in LA, complemented by two large closets with marble accents and a serene bathroom setting with a soaking tub. The living area flows from one room to the next and seamlessly into an entertainer's dream for outdoor living … This home is the pinnacle of luxury, tucked away in the hills, yet conveniently located moments from the world's most sought-after dining, entertainment and leisure."
Compass listing agent Aaron Kirman is handling the sale, and he says the price bump represents a large investment in Ruan's part in making the "rarefied property" what it is today. He also tells WSJ that Ruan actually never lived in the house, and is deciding to sell now due to spending more time outside Los Angeles.
The futuristic concrete mansion, designed jointly by architecture firms SAOTA and Woods + Dangaran, can be seen in the video below from Kirman's YouTube channel. Take a look: