From a $250 Million Asking Price to a $130 Million Foreclosure Sale

One of Bel-Air’s most celebrated estates has changed hands through foreclosure—and the buyer is reportedly billionaire investor Peter Thiel.

The Wall Street Journal reported on September 29 that a limited liability company linked to Thiel purchased Casa Encantada for $130 million at a foreclosure auction in July 2026. The sale took place at Pomona’s Civic Center Plaza, an unexpected setting for a transaction involving such a famous residence.

A $120 Million Gap Between Asking Price and Sale Price

Casa Encantada had been offered for $250 million in 2023, then relisted for $170 million in April 2026 before the July auction. Its $130 million sale price was $120 million—or 48%—below that earlier $250 million asking price.

That comparison reflects a reduction from the seller’s asking price, rather than a confirmed discount to market value.

A Mansion With a Remarkable Past

Built in 1938, the approximately 40,000-square-foot mansion occupies 8.4 acres overlooking the Bel-Air Country Club. It features seven bedrooms, 20 bathrooms, a walnut-paneled library, landscaped gardens, a tennis court and a 60-foot swimming pool.

Previous owners include hotel magnate Conrad Hilton, financier David Murdock and businessman Gary Winnick, who bought the estate for $94 million in 2000. Financial difficulties following Winnick’s death in 2023 ultimately preceded the foreclosure sale.

According to The Wall Street Journal, Thiel views the estate as an investment and plans to upgrade it rather than live there.

Casa Encantada’s sale offers a striking reminder: even properties with extraordinary histories and nine-figure asking prices can end up in foreclosure.

By Elías DaSilva | October 6, 2026