Two months in the past, Spotify revealed it had agreed to accumulate The Ringer, the media firm based by veteran sports activities journalist and podcaster Invoice Simmons, in an all-cash deal valued at almost $200 million. The hefty buy worth reportedly boosted Simmons’ internet value into the nine-figure stratosphere.
And the entrepreneurial firebrand has wasted little time sinking a few of that huge money inflow again into Los Angeles, the place he’s added to his already bulging portfolio of private residences by making his greatest property splash but — shelling out greater than $16.1 million for a historic property sited within the posh neighborhood of Hancock Park, on what’s arguably the enclave’s most fascinating road.
The $16.1 million splurge ranks because the second-biggest deal ever inked within the space, just a few notches under the $19 million mansion deal that shattered Hancock Park data earlier this 12 months. That latter house, acquired by businessman Thomas J. Swan III and his husband Joe Townley, occurs to be solely two doorways away from the brand new Simmons abode.
Initially inbuilt 1925, Simmons’ sprawling manor was reportedly as soon as house to famous architect Lloyd Wright — FLW’s late son — and had previously been owned by pioneering cosmetics tycoon Max Issue. The property modified palms occasionally over the following a long time, most just lately in 2011, when it bought for a comparatively paltry $6.08 million to nursing house tycoon Lawrence Feigen.
For the reason that Feigen-to-Simmons deal was consummated off-market, the house’s present accouterments stay largely a thriller. However again in 2011, the grand previous dame displayed beautiful previous world craftsmanship — authentic customized molded ceilings, leaded glass home windows, an octagonal breakfast room and acres of opulent, hand-carved wooden trim. The 8,100 sq. ft. house has seven bedrooms and a complete of 5.5 baths.
The almost one-acre property additionally options lush landscaping, with spacious lawns entrance and rear. Meandering pathways twist round historical oak timber and formal gardens, whereas brick-and-stone pathways result in the indifferent guesthouse, a mini-replica of the principle mansion. On the far rear of the property is a full-size, lighted tennis court docket with an adjoining viewing pavilion — properly shaded from the L.A. sunshine by a thatched roof, after all. And only a fast skip from the pavilion is a big swimming pool surrounded by an expansive brick patio, good for sunbathing on a chaise lounge.
Moreover his new $16 million property, property data reveal Simmons continues to take care of a fearsome steady of luxurious houses. Again in late 2015, he punted out $7.5 million for an oceanfront cottage on Malibu’s unique Carbon Seashore, the place a few of his neighbors embrace billionaires like Eli Broad, Larry Ellison and Jeffrey Katzenberg. He additionally continues to take care of his longtime Hancock Park residence, a $3.1 million 1920s Tudor that was acquired again in 2007. There’s additionally a condominium in Westwood — strolling distance to UCLA — and final December, the budding actual property tycoon splashed out $1.7 million for a Spanish-style house in L.A.’s Larchmont Village neighborhood.