Kipp Nelson, a private equity financier, relists Hollywood Hills mansion for $48M

A Hollywood Hills mansion built for a car connoisseur has relisted for $48 million – a nearly 13 percent price chop from the asking price earlier this year.

The manse at 1301 Collingwood Place in the Bird Streets neighborhood was put on the market July 27 at $48 million, according to listing sites. At just under 16,000 square feet, the house pencils out to $3,069 per square foot. It has been on-and-off the market since 2020, but its most recent run spanned January to March when it was priced at $54.9 million.

It is currently listed by Rayni and Branden Williams of the Beverly Hills Estates.

The property was put on the market because the owner, Kipp Nelson, no longer lives in Los Angeles, according to media reports. Nelson is a partner at Long Arc Capital and a former partner at Goldman Sachs in London.

The private equity titan is known as a competitive skier who serves as a chairman of U.S. Ski and Snowboard, the Olympic national governing body of the sport. The organization’s website lists Nelson’s address as Ketchum, Idaho.

Nelson is also a major car enthusiast, an obsession which found its way into 1301 Collingwood Place. The mansion has a model racetrack, dubbed the Kippway. Also on site is an auto gallery that can showcase 15 cars.

Built on a promontory in the Hollywood Hills, the property offers views of Los Angeles. Nelson built the five-bed, eight-bathroom house, which was designed by prominent Seattle architectural firm Olson Kundig. Olson Kundig also designed the look for ultra luxe condo building 8899 Beverly Boulevard in West Hollywood.

Listing website Zillow offers a comparable to 1301 Collingwood Place with the 11,600-square-foot home at nearby 8905 Devlin Place. It was listed in May by Branden Williams and Trevor Wright, both of the Beverly Estates. The current ask for the house is $34.9 million, or $3,002 per square foot.