Katherine Clark of the Wall Street Journal reports that the Facebook CEO lost more than $ 59 million in two adjacent properties on Lake Tahoe last winter. The purchase was made privately through an LLC and a large wealth manager, according to Clark.
It is the newest addition to Zuckerberg’s portfolio of properties in the western US, and he also owns properties in Palo Alto, San Francisco, and Kauai Island in Hawaii, making Tahoe its fourth location.
In all, Zuckerberg bought 10 properties, although he also had the power to purchase surrounding properties to ensure his privacy: he bought four homes around his main residence in Palo Alto and a stake in a beach adjacent to a farm he bought on Kauai.
Zuckerberg is also known for his involvement in a minor real estate dispute – there was a dispute about landlocked parcels on the ranch and the neighbors were unhappy with the effects of Zuckerberg’s renovation of more than a year in his San Francisco home.
Mark Zuckerberg lives in a 5,000-plus-square-foot estate in Palo Alto, California.
Business Insider’s Tanza Loudenback reported that he bought the Crescent Park neighborhood home in May 2011 for $ 7 million. He has since created it using an “artificially designed smart assistant,” according to CNBC.
Compared to Zuckerberg’s $71.5 billion net worth, the five-bedroom, five-bathroom home is quite modest.
Architectural Digest describes it as a “no-frills house” that chooses function over extravagance. Outside, it features a large backyard, pool, and lush, detailed landscaping. Inside there is a spacious kitchen and many windows that let in sunlight.
The following year, Zuckerberg began buying four homes surrounding his Palo Alto residence.
Katherine Clark of the Wall Street Journal reports that he has spent more than $ 43 million on this property, citing public records. After renting the homes from their previous owners, he plans to demolish and rebuild them in 2016.
According to Realtor’s Claudine Zap, city officials disagreed with this plan, and Zuckerberg came up with a new plan that allowed him to renovate two homes and rebuild the other two as bungalows, creating a kind of complex.
Zuckerberg also owns a 5,500-square-foot townhouse in San Francisco.
He reportedly bought the house for $ 10 million in 2013, according to the SF Portal. The house, which dates back to 1928, spans 9,800 square feet and measures 70 square feet, according to Clark.
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According to Google Maps, it’s located between Noe Valley and the Mission District in Dolores Heights on 21st Street.
Compass real estate agent Natalie Hatfani Kitchen told Clark that it is “a much tougher area and certainly not where you would expect to find someone of her wealth and stature.”
The townhouse became a fixer-upper, with Zuckerberg spending more than $1.6 million in renovations.
Zuckerberg spent about $ 65,000 remodeling the kitchen and bathroom, according to SFGate. It also added a new media room, wine room, and greenhouse; The latter costs 60 thousand dollars.
The renovation took 17 months, according to Curbed’s Lamar Anderson, leaving neighbors with wrecked sidewalks and no parking on the streets. Neighbors have reportedly sent a letter complaining about the illegally parked SUV, Clark said.
In 2014, Zuckerberg’s real-estate portfolio expanded to the Pacific with a $100 million splurge on two properties on Kauai Island in Hawaii.
The estate is spread over 750 acres of land on a secluded stretch of Hawaiian Beach, according to Business Insider’s Madeline Stone. Zuckerberg said he and his wife, Priscilla Chan, bought the land because they “devoted themselves to preserving its natural beauty.”
Clark reports that in 2017, he bought another 89 acres for more than $ 45 million.
He first paid $49.8 million for an 89.2% stake in Pila’a Beach, an isolated oceanfront property.
The property is 393 acres and is not put out for public circulation, according to Stone.
The beach is difficult to access, with a half-mile trail that leads down to the shore.
Stone writes that the beach is open to the public, and Zuckerberg’s land is located a little further from shore.
Zuckerberg reportedly paid $66 million for the Kahu’aina Plantation, adjacent to the beach.
The former sugarcane farm was 357 acres, boasts 2,500 feet of white sandy beach, and has a mature working organic farm with crops, including ginger, turmeric, and papaya. The farm is also home to goats and turtles, according to Zuckerberg’s Facebook page.
The plantation was approved for up to 80 homes, but Zuckerberg reportedly plans to build just one.
Zab said he plans to build a two-bedroom home on 6,100 square feet, which includes a 16-bay garage complex and a “farm administration building” with credit card-protected offices and security offices.
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Zuckerberg bought as many as two dozen landlocked parcels on the plantation.
The rights to these parcels are known as “kuleanas”. There was a dispute about four of these parcels, which were donated to Native Hawaiian families and were later abandoned by Zuckerberg, according to Clark.
Last winter, Zuckerberg dropped $59 million on two adjacent private waterfront estates in Lake Tahoe, a popular destination for Bay Area residents.
Clark reports that Zuckerberg’s properties are located on the West Coast outside of Tahoe City, an area known for “old, discreet, fading, lurking money in the woods,” adding that the families of Hewlett-Packard founder, Bill Hewlett and late publishing symbol Charles McClatchy are neighbors.
The transaction occurred secretly and wasn’t revealed publicly until the following May.
According to Clark, Zuckerberg purchased the real estate through an LLC and a large wealth manager to keep the arrangements private. Real estate agents signed nondisclosure agreements and removed pictures of real estate from their websites.
His 5,322-square-foot Brushwood Estate sits on a six-acre lot and dates back to the 1920s.
The Brushwood Estate measures 5,322 square feet and has six bedrooms, five bathrooms, and two half baths, according to Amy Graf of SFGate. Inside there are high ceilings and windows. Outside the lush trees, private jetty, and hot tub. There is also a guest house of 2,293 square feet.
The property has had many owners over the years, including the novelist and several social figures and philanthropists who used to host Oscar de la Renta shows on the property.
The other property Zuckerberg bought is the $22 million Carousel Estate.
Located on an area of 3.5 acres, it has eight bedrooms, nine bathrooms, half bathrooms, high ceilings, and a wood-burning fireplace. Promotional materials for the properties say they “exude an old Tahoe vibe,” says Nick Baston of Business Insider.
The Carousel Estate is separated into three living quarters but is connected by “breezeways” and all under one roof.
Outside, Baston wrote, it has 200 feet of private shoreline, with a “marina-style” pier that can accommodate yachts over 50 feet and an outdoor patio overlooking the lake. There is also a care home on the property.
Between the two properties, Zuckerberg owns 600 feet of private Lake Tahoe boardwalk.
But that may soon expand: He is reportedly in talks to acquire a third property across the street. Business Insider’s Megan Hernbroth reports that it is unclear whether Zuckerberg will maintain the housing in the two properties or choose to demolish it and start over.
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