The developer of this towering Bel Air mansion had a tough time unloading his built-on-speculation creation — despite the home’s prime location and glitzy look. Completed in 2019, the house languished on the market for nearly two full years, undergoing several brutal price chops and a change of realtors in the process. Last month, it finally sold for nearly $9.7 million, a great deal of money but significantly under the original ask of $12.4 million.
That’s all good news for the discount-minded new owner, who records indicate is crypto titan Wen Hou. Now in his mid-30s, Hou has traveled a long road to the top over the years, from living with his parents in the Rancho Cucamonga suburb of Los Angeles to a top executive role at Coincident Capital, a crypto-centric hedge fund based in San Francisco. Hou’s Coincident bio calls him a would-be electrical engineer who is now a renowned “cryptocurrency expert and enthusiast,” and an expert trader “currently ranked on multiple exchange leaderboards.”
Along the way, Hou has apparently amassed a significant net worth — some of which has been funneled into luxury real estate. Last year, he paid $3.7 million for a lavish condo on the 43rd floor of Las Vegas’ exclusive Waldorf Astoria hotel. And back in 2019, he forked out $6.8 million for a nearly 44,000-square-foot industrial warehouse building in San Bernardino, Calif. As for his $9.7 million Bel Air digs, records suggest he paid cash for the place.
Speaking of the Bel Air house, it’s very boxy, very contemporary and very white. While that may not be to everyone’s taste, a modern art collector or lover of colorful furniture might appreciate the opportunity to let their furnishings take center visual stage. And the house is loaded with extravagant amenities and bespoke finishes, courtesy of the developer — premier estate developer ANR Signature Collection. ANR has built and sold sophisticated homes throughout Los Angeles to many high-profile buyers, including Cameron Diaz, Kylie Jenner and Travis Scott, The Chainsmokers’ Drew Taggart and fellow crypto tycoon Jesse Powell.
Besides the typical fireplace-equipped living room and separate dining and family rooms, the nearly 7,000-square-foot structure also packs in a completely open and totally custom chef’s kitchen with high-end Miele appliances. There’s a guest suite on the main floor, plus a windowless gym and attached three-car garage on the basement level. Upstairs are four more bedrooms, all of them with ensuite baths; the master includes its own private den/office, balcony, and custom dressing room. Nearly every room in the house boasts views of the city, mountains or the ocean, per the listing.
From its hillside perch in the upper Bel Air neighborhood, the backyard infinity pool has clear vistas that stretch for miles. The entire yard has curated landscaping that nicely offsets some of the rigidly angular home’s harsh corners. The half-acre property also includes a backyard cabana with its own convenient bathroom, a barbecue kitchen and firepit. From the house, vast expanses of glass walls retract for a seamless indoor/outdoor flow.
Ginger Glass of Compass had the listing; Ernie Carswell of Douglas Elliman repped the buyer.