Peter Thiel purchases Los Angeles landmark Casa Encantada for $130 million

Peter Thiel, the venture-capitalist who first backed Facebook, bought the famed Casa Encantada estate for $130 million through a company tied to him, ending a foreclosure auction held at Pomona’s Civic Center Plaza. The 1930s mansion, set on roughly 8.5 acres overlooking the Bel-Air Country Club, includes seven bedrooms and about 40,000 sq ft of space. Previously, the property was listed at $225 million in 2019, rose to $250 million in 2023, and was reduced to $170 million in February before the auction.

The estate’s recent history involved a disputed $150 million loan from CIM Real Estate Credit, which led to a foreclosure that was temporarily stayed at the request of the late owner’s widow, Karen Winnick, before proceeding in July. Thiel had been monitoring the house for months and plans to refurbish it as an investment rather than a personal residence. The transaction is the biggest home sale in Los Angeles this year, albeit far below its earlier price tags. Casa Encantada joins a global portfolio of properties owned by Thiel, including homes in Washington, DC, Miami, Buenos Aires, Hawaii, and New Zealand.