Spec builder ANR Signature Collection has found a buyer for a Bel Air mansion that had been on the market for two years.
Hedge funder and well-known cryptocurrency investor Wen Hou has purchased the 6,910-square-foot home for $9.7 million, according to Dirt.
That’s well below the $12.4 million asking price it had when it hit the market after completion in 2019.
The boxy black-and-white manse sits on half an acre, with five bedrooms and 6.5 bathrooms. Each bedroom has an en-suite bathroom, and the main bedroom has its own den or office space, balcony, and a dressing room.
It’s got the typical contemporary spec mansion look and layout — lots of glass, sleek light fixtures and cabinetry, open floor plans, and pocketed glass doors leading from the main living spaces to the backyard.
The basement level includes a gym and a three-car garage. The backyard has an infinity pool, barbeque area, firepit, and a small manicured lawn area.
Ginger Glass with Compass had the listing, while Earnie Carswell with Douglas Elliman represented Hou.
Hou grew up in Rancho Cucamonga in the Inland Empire, and currently serves as Chief Investment Officer for San Francisco-based hedge fund Coincident Capital. The firm focuses on cryptocurrency investment, including in Bitcoin, and Hou has established a significant following in the sector.
Hou appears to have purchased the Bel Air home with cash, according to Dirt. It’s his third big real estate deal of the last three years.
In 2019, he bought a 44,000-square-foot warehouse in San Bernardino for $6.8 million and last year bought a condo at Las Vegas’ Waldorf Astoria hotel for $3.7 million.
ANR is a partnership between Agustin Rodriguez and George Jordan. The firm has developed several dozen spec homes around Los Angeles over the years.
The firm recently started work on a townhome-style development at 917-929 Hilldale Avenue in West Hollywood. The firm expects to complete the project within the next two years, according to a website for the project.
[Dirt] — Dennis Lynch