Russell Weiner wants to flip his newly-bought Bird Streets manse like a Rockstar

Los Angeles /
Sep.September 18, 2019 01:30 PM
Russell Weiner and the Bird Streets home
Russell Weiner and the Bird Streets home (Credit: Coldwell Banker)

The Los Angeles luxury residential market is in a long slump but Rockstar Energy founder Russell Weiner hasn’t gotten that memo. Or if he has, the billionaire has chosen to crumple it up, toss it in his mouth and chase it with one of his caffeine-charged beverages.

A mere two weeks ago, Weiner scooped up a mansion in the Bird Streets enclave from tech honcho Lynda Weinman for $16.5 million. That was a drastic price chop from the $27 million that Weinman had spent on the 12,530-square-foot home two years ago.

Now, Weiner — whose net worth is $4 billion, according to Forbes — wants to pull off the ultimate flip.

He has relisted the home for $27.9 million, about $11.5 million more than he paid and even more than Weinman had purchased it for, according to the Los Angeles Times.

As would be expected no major changes have been done to the six-bedroom, 10-bedroom estate in the two weeks since he purchased it.

Katelyn Byrd of Coldwell Banker Residential Brokerage is handling the listing.

Weiner is something of a collector of high-end homes, having scooped up former N.B.A. player Carlos Boozer’s Sunset Strip estate in 2006, along with a Beverly Hills compound in 2015 that had once belonged to Madonna. He paid $19 million for that one. After extensively renovating the mansion, he listed it for $49 million nearly two years ago. But it still hasn’t sold and in February he shaved $4 million off the price tag. [LAT] — Alison Stateman


Related Articles

arrow_forward_ios
Steven Udvar-Hazy and 67 Beverly Park Ct (Hilton & Hyland)

Do I hear? Beverly Crest mansion, listed for $160M, heads to auction

Do I hear? Beverly Crest mansion, listed for $160M, heads to auction
Spencer Rascoff and the home (Credit; John Lamparski/Getty Images)

Spencer Rascoff scoops up another Brentwood Park home

Spencer Rascoff scoops up another Brentwood Park home
Los Angeles county condo sales were up last month

LA condo sales continue their unlikely rise

LA condo sales continue their unlikely rise
Atherton (right) and Beverly Hills ranked first and second place, respectively (Wikimedia)

Beverly Hills 90210 is second priciest ZIP to buy a home

Beverly Hills 90210 is second priciest ZIP to buy a home
Patrick Nesbitt and the home (Credit: Hilton & Hyland via LA Times, and Scott Dudelson/Getty Images)

Hotelier now plans no-reserve auction for 20-acre Montecito estate

Hotelier now plans no-reserve auction for 20-acre Montecito estate
Rob Lowe and wife Sheryl Berkoff, with the home (Credit: Gregg DeGuire/WireImage via Getty Images, and Compass/The Agency)

Rob Lowe sells Montecito mansion for $46M

Rob Lowe sells Montecito mansion for $46M
LeBron James and the home at 9955 Beverly Grove Dr. (Credit: Ezra Shaw/Getty Images, and Google Maps)

Closing in on title, LeBron James closes on Beverly Hills mansion

Closing in on title, LeBron James closes on Beverly Hills mansion
Pierce Brosnan (Credit: Andreas Rentz/Getty Images)

$99M is not enough: Pierce Brosnan lists Malibu manse at massive price

$99M is not enough: Pierce Brosnan lists Malibu manse at massive price
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...