The home, which the seller bought unfinished and extensively renovated, is nearly 21,000 square feet and has a separate guesthouse with its own pool.
George Ruan, a co-founder of online coupon company Honey, is listing his modern Los Angeles mansion—sans discount—for $150 million.
The 1.15-acre property in Bel-Air has 360-degree views of Los Angeles, said listing agent Aaron Kirman of Compass. Mr. Ruan co-founded Honey, which helps consumers find discount codes for online purchases, in 2012. The company was acquired for about $4 billion by PayPal Holdings in 2020.
That year, Mr. Ruan purchased the property from developer Viewpoint Collection for $60 million, records show. Mr. Kirman said Mr. Ruan bought the nearly 21,000-square-foot house unfinished and completed a major renovation.
Designed by South Africa-based architecture firm SAOTA with Woods + Dangaran in Los Angeles, the main residence is clad in concrete. There is a theater and library on the main floor, along with a dining room featuring wood panels that pivot to close off the room. The lower level has a gym and spa with Japanese dipping pools, Mr. Kirman said. In all, there are nine bedrooms, including a staff area and a separate one-bedroom guesthouse with its own pool.
Mr. Kirman called the property “the ultimate entertainer’s pad,” with an infinity pool, outdoor kitchen, cabana area and sunken fire pit.
Mr. Kirman said Mr. Ruan never lived in the house and is now selling because he is spending more time outside of Los Angeles. The asking price reflects the work Mr. Ruan did to complete the home.
“A lot of money, time and energy has been spent to bring it to where it is,” he said. “It is a rarefied property.”
In Bel-Air and Holmby Hills, prices hit new highs during the first quarter of 2022, according to appraisal firm Miller Samuel. The average single-family home sale was $11.6 million during the quarter, up more than 175% year-over-year.
Last year, home sales above $100 million took off thanks to low interest rates and a surge in wealth created through stock-market gains. In Malibu, venture capitalist Marc Andreessen and his wife, Laura Arrillaga-Andreessen, paid a record-setting $177 million for a home spanning roughly 10,000 square feet as well as two guesthouses. Coinbase Chief Executive Officer Brian Armstrong bought a $133 million Los Angeles estate.
Mr. Kirman said the ultraluxury market has cooled amid stock-market volatility. “People are taking a pause,” he said. “They want to see where things are.” Prime properties, however, will always be in demand, he said.
Corrections & Amplifications
The Ruan home listing includes two parcels totaling 1.15 acres. An earlier version of this story incorrectly said the estate was on 1/2 acre. (Corrected on July 8.)
“A lot of money, time and energy has been spent to bring it to where it is,” he said. “It is a rarefied property.”
In Bel-Air and Holmby Hills, prices hit new highs during the first quarter of 2022, according to appraisal firm Miller Samuel. The average single-family home sale was $11.6 million during the quarter, up more than 175% year-over-year.
Last year, home sales above $100 million took off thanks to low interest rates and a surge in wealth created through stock-market gains. In Malibu, venture capitalist Marc Andreessen and his wife, Laura Arrillaga-Andreessen, paid a record-setting $177 million for a home spanning roughly 10,000 square feet as well as two guesthouses. Coinbase Chief Executive Officer Brian Armstrong bought a $133 million Los Angeles estate.
Mr. Kirman said the ultraluxury market has cooled amid stock-market volatility. “People are taking a pause,” he said. “They want to see where things are.” Prime properties, however, will always be in demand, he said.
Corrections & Amplifications
The Ruan home listing includes two parcels totaling 1.15 acres. An earlier version of this story incorrectly said the estate was on 1/2 acre. (Corrected on July 8.)