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It took Evan Spiegel and Miranda Kerr two years to buy a $ 120 million LA home

Last May, when Snapchat founder Evan Spiegel and supermodel Miranda Kerr built a $25 million house in Los Angeles, the couple got married. still had a long way to go. The land they wanted to buy next door.

Nearly two years later, Spiegel and Kerr finally closed his second property in the Holmby Hills neighborhood for his whopping $120

The reason the house has taken so long to close is down to construction, the outlet reported. As the mansion is in multi-year construction, certain construction stages had to be completed before formal ownership of the property could be taken.

It is the highest-grossing property in California, second only to Marc Andreessen's $177 million Malibu home and Jeff Bezos' $165 million Beverly Hills estate. is one of his.

The four-acre land across from the Playboy Mansion was sold by British billionaire Ian Livingston, who bought two lots for $72 million in 2014 and 2017.

Construction on the two parcels is expected to take a few more years before it is fully completed.
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started. The construction cost was estimated at tens of millions. Before switching properties to Spiegel later, according to Dirt.

Spiegel and Kerr's $125 million deal was backed by a $50 million mortgage.

According to Forbes, Snapchat stock was trading at record highs at the time of the couple's acquisition, pegging Spiegel's net worth at over $10 billion. Now, the company's earnings, share price decline, and an uncertain economy have reduced his net worth by as much as $7.5 billion.

Hilton & Stephen Resnick and Jonathan Nash of Hyland held the list. Drew Fenton of Hilton&Hyland represented the buyer.

Meanwhile, while waiting for construction to be completed, Spiegel, 32, and his 39-year-old Kerr are living in the Brentwood home, once owned by Harrison Ford. . They also have a villa in Paris, where they spent $30 million, The Post previously reported.

Spiegel also gave Brentwood his $3 million I still own the first house I bought in