Peter Thiel identified as buyer of Los Angeles record-price mansion

A limited liability company linked to tech investor Peter Thiel secured the $130 million winning bid for Casa Encantada, the iconic Bel-Air mansion, during a July foreclosure auction held at Pomona’s Civic Center Plaza. The estate, which spans roughly 8.5 acres and features about 40,000 sq ft of living space, had been on the market since 2019 with asking prices ranging from $225 million to $250 million before falling to $170 million earlier this year.

The sale followed a protracted legal battle after the Winnick family, heirs of former owner Gary Winnick, accused lender CIM Real Estate Credit of a loan-to-own scheme that led to a foreclosure stay being lifted. Thiel, 58, has been eyeing the property for months and plans to renovate it as an investment rather than a primary residence. The transaction is the biggest home sale in Los Angeles this year and adds to Thiel’s global property portfolio, which includes homes in Washington, DC, Miami, Buenos Aires, Hawaii and New Zealand. He moved his primary residence from California to Miami late last year.