If we had any say in the matter, for our next lives, the entire BH office would like to be reincarnated as billionaire hedge fund managers with a palatial home similar to that of Jeffrey Feinberg – covered last week here – or perhaps Caxton Associates’ retired big dog, Bruce Kovner. The latter of which is the subject of both discussion and envious scrolling today.
Kovner has listed the verdant compound he reportedly spent 14 years developing on a 22-acre parcel of land located in the coastal region near Santa Barbara. And for all the undoubtedly intensive labour invested (read: US$150 million / AU$206 million sunken), not to mention the intangible sentimental value it holds, old mate Brucey and wife Suzie are looking to sell this breathtaking Californian kingdom for no less than US$160 million (AU$219.4 million).
It certainly isn’t the most accessible of price tags, sure. In fact, according to The Wall Street Journal, if this pad sells for what the Kovners are demanding, it’ll secure its place in history as one of the richest residential real estate deals in the whole state; the current record retained by another billionaire retiree by the name of Jeff Bezos after he purchased the Warner Estate from David Geffen for US$165 million. Whatever the case, you have to admit, at nothing more than a glance… it’s quite befitting of a man who established what used to be among the largest hedge funds in the world.
Dubbed The Sanctuary at Loon Point, the sprawling property in question encompasses two large homes adjacent to one another, each with its own pool and cabana, as well as offering beach access. The first home is a little older and underwent a renovation process. Measuring up to approximately 8,000 square feet, it includes a separate guest cottage.
The newer home was built from scratch and also measures up to 8,000 square feet. Framing the very best of the surrounding scenery, ranging from the Pacific Ocean (south) to the mountain range (north), it has apparently been used as a vacation/staycation home. A pretty amusing thought, the more you think about it.
“It started at 3.5 acres and – with a great deal of fertilizer – it grew to 22,” Bruce Kovner jokes to the WSJ.
“It was a wild ravine. It’s magical because you can sit right up at the cliff’s edge.”
Check out The Sanctuary at Loon Point – otherwise known as the soon-to-be-former family home of Bruce & Suzie Kovner – in the gorgeous captioned gallery below.
Read more: The Wall Street Journal