Billionaire Peter Thiel is reportedly behind the $130,000,000 purchase of Casa Encantada, a stunning and historic estate in Los Angeles.
The Wall Street Journal first reported the identity of the winning bidder — the PayPal co-founder — at the end of September.
Sitting above the Bel-Air Country Club, per a news release from Rodeo Realty last December, Casa Encantada previously belonged to Gary Winnick, who wanted over $200 million for the property in recent years, the Los Angeles Times reported. Winnick, a telecommunications company founder, died in 2023 at age 76.
According to the Wall Street Journal, Thiel “doesn’t intend to live at Casa Encantada, but views it as an investment property and will be upgrading it,” citing a person familiar with
the situation.
A glimpse at Peter Thiel’s Casa Encantada
The property includes a seven-bedroom, 20-bathroom residence and comes in at over 28,000 square feet, according to the Los Angeles County Assessor.
The home is nearly a century old and was designed by architect James E. Dolena, who was behind other properties in Southern California. Another high-profile former owner was Conrad Hilton, founder of Hilton Hotels, according to Architectural Digest.
The property boasts a “sweeping staircase from an oval foyer to a grand hall crowned with 14-foot ceilings,” according to Rodeo Realty. The property has a walnut-paneled library and a Lucite bar that “recalls the shimmer of golden-age cinema.”
Marble baths and private sitting rooms adorn the primary suite, Rodeo Realty says.
The grandeur doesn’t end indoors. The property’s gardens feature rose terraces, botanical sanctuaries, orchard and herb gardens, a 60-foot tiled pool, a tennis pavilion and a sports court, Rodeo Realty said.
Paris Barraza is a reporter covering Los Angeles and Southern California for the USA TODAY Network. Reach her at pbarraza@usatodayco.com.
This article originally appeared on USA TODAY: See specs of LA's Casa Encantada, reportedly Peter Thiel's new estate
