Uber Co-Founder Breaks Property Records In Beverly Hills For $72M

The celebrity-filled neighborhood of Trousdale Estates in Beverly Hills has a new record breaker on the books, as Variety has reported. Uber co-founder, Garrett Camp (whom Forbes estimates has a net worth of $4.1 billion), and his partner, Eliza Nguyen, purchased a $72 million newly-built house not far away from the neighborhood’s former record holder, Minecraft creator and billionaire Markus Persson, who purchased a $70 million home in 2014. Also nearby is the contender that was vying for second place, this 7 bed, 7 bath contemporary by Niles Niami but it recently dropped its price from $68 million to $59.9 million.

This new pad was privately listed by California brokerage The Agency for a rumored $80 million, according to Variety, so few photos exist. However, the new house was the site of a PR event jointly held by Rolls Royce and One&Only resorts this spring and the one exterior photo taken at the event looks very similar to the renderings of what was proposed for the site before it last sold for $13.7 million in 2014. Previously the 1.11 acre lot held an 11,000 square foot home with stone-front and slight mid-century vibe. It was torn down to create a much more contemporary house with an infinity pool and sliding glass doors to go for that indoor/outdoor feel.

Camp and Nguyen are moving in to a locale that has been a celebrity hang out since the days of Frank Sinatra and Elvis Presley living there. Sinatra commissioned a house here by the esteemed architect Paul Williams in the 1950s and Presley bought a home here in 1967. Since then the high-profile residents have included Jennifer Aniston, Ellen DeGeneres, Cindy Crawford and Rande Gerber, Ringo Starr and David Spade amongst many others.

The neighborhood has a healthy amount of market activity, with over 80 homes selling there in the past year. The highest priced sale of the previous 12 months was a $24 million home just under 7,000 square feet. There are about 90 active listings on the market, with only one single-family home asking under a million—this 1,400 square foot house priced at $995,000.

Interestingly, the listing description for this property before it was torn down is still up and includes a hint at its potential: “Purchase the property and invest approximately $5,000,000 to create this modern masterpiece as shown for immediate upside and equity and turn this estate into a $30,000,000 to $35,000,000 contemporary gem in one of Beverly Hills’ most coveted neighborhoods.”

That was from five years ago and it turns out they were only off by a half.

This post first appeared on Forbes.com. To see the original, click here.