A Los Angeles Mansion Previously Owned by Wilt Chamberlain Sold to ShapeShift CEO for $9.7 Million
A Los Angeles mansion formerly owned by legendary basketball player Wilt Chamberlain has been purchased by ShapeShift CEO Erik Voorhees for $9.7 million. Although the sale price is lower than the initial asking price of almost $19 million, it still represents a significant profit for the previous owner, Dmitri Novikov, who acquired the property for $6.7 million in 2008.
The Luxurious Ursa Major Residence in Bel Air
The mansion, known as “Ursa Major,” is located in the prestigious Bel Air neighborhood on a gated 2.5-acre hillside parcel. Designed by architect David Tenneson Rich and built over five decades ago, it underwent extensive renovations under Novikov’s ownership in 2008, including updates to the kitchen and lower level.
- The grand entrance features a stone walkway over a water feature.
- The great room boasts a 40-foot cathedral ceiling and a sunken conversation pit with a fireplace.
- The property includes a gourmet kitchen with high-end appliances.
- A floating staircase leads to the master retreat on the second floor.
Crypto Entrepreneurs Investing in Bel Air Real Estate
Erik Voorhees, whose net worth was estimated at $30 million in August 2023, joins a growing list of crypto entrepreneurs investing in Bel Air real estate. This trend follows the volatility of the crypto market, which has seen both surges and declines. Coinbase CEO Brian Armstrong also reportedly purchased a $133 million mansion in Los Angeles in January 2022.
Hot Take: Crypto Entrepreneurs Making Moves in the Real Estate Market
As crypto continues to gain prominence, crypto entrepreneurs are not only making waves in the digital world but also investing their wealth in luxury real estate. By acquiring the mansion once owned by Wilt Chamberlain, ShapeShift CEO Erik Voorhees demonstrates the growing influence and financial power of the crypto industry. This trend is not limited to Voorhees, as other prominent figures like Coinbase CEO Brian Armstrong have also made significant real estate purchases. It’s clear that crypto entrepreneurs are diversifying their portfolios and leaving their mark on traditional industries.
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