Imagine making a $23 million investment, only to double the return just a few years later… That’s where Vice Media co-founder and chairman Shane Smith finds himself after the recent sale of his Pacific Palisades compound for a massive $48.67 million.
Smith bought the 3.35 acre, three-property compound in 2015 for the aforementioned $23 million, according to the L.A. Times. Known as Villa Ruchello, the property features 13 bedrooms and 12.5 bathrooms across the three structures and 14,000 square feet.
At $48.67 million, the sale of Villa Ruchello is the largest ever on record in the Pacific Palisades and the second-largest sale in L.A. County this year. The new owner did manage to get in some negotiation, though, as the original listing price had the compound at $50 million even.
Santiago Arana of the Agency held the listing. Richard Ehrlich of Westside Estate Agency represented the buyer.