Crypto CEO Brian Armstrong buys Los Angeles home for $ 133 million

[ad_1]

Coinbase CEO Brian Armstrong is the buyer of a $ 133 million domain in Los Angeles, according to people familiar with the deal. The deal, which closed in December, is one of the most expensive single-family home sales ever in the Los Angeles area.

The seller was a limited liability company linked to Japanese entrepreneur Hideki Tomita, who bought the property for $ 85 million in 2018, according to records.

The house is located in Bel-Air. Photo: Jim Bartsch

Coinbase is the largest cryptocurrency exchange in the United States and the first major cryptocurrency-focused company to go public, Mr. Armstrong is the latest in a series of great cryptocurrency executives who have bought major homes in the US luxury markets in recent months. Jonathan Yantis, the co-founder of the blockchain NFT Worldwide Asset eXchange, recently bought an approximately 70-acre estate outside of Denver for $ 12.5 million.

Coinbase CEO Brian Armstrong. Photo: Matt Winkelmeyer / Getty Images

The Bel-Air estate was previously owned by the daughter of billionaire Seagram heir, Charles Bronfman, the Wall Street Journal reported. At the time of the 2018 sale, it spanned approximately 4.6 acres and included an approximately 19,000 square foot minimalist-style mansion designed by British architect John Pawson, as well as a guesthouse in five bedroom designed by Paul Williams on adjacent land. parcel.

The design of the main house, which has five bedrooms and was built in 2009, resembles cubes stacked on top of each other, with the top suspended above the lower level. It has a theater, gym, spa and double height dining room.

Mr. Armstrong, an early fan of bitcoin, became one of the richest people in the world earlier this year when Coinbase went public in April, the Wall Street Journal reported.

Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

[ad_2]