{"id":6769,"date":"2026-10-06T17:10:17","date_gmt":"2026-10-06T17:10:17","guid":{"rendered":"https:\/\/www.foreclosurelistings.com\/news\/?p=6769"},"modified":"2026-10-06T17:10:17","modified_gmt":"2026-10-06T17:10:17","slug":"from-a-250-million-asking-price-to-a-130-million-foreclosure-sale","status":"publish","type":"post","link":"https:\/\/www.foreclosurelistings.com\/news\/foreclosure-market\/from-a-250-million-asking-price-to-a-130-million-foreclosure-sale","title":{"rendered":"From a $250 Million Asking Price to a $130 Million Foreclosure Sale"},"content":{"rendered":"<p class=\"s3\"><span class=\"s7\">One of Bel-Air\u2019s most celebrated estates has changed hands through foreclosure\u2014and the buyer is reportedly billionaire investor Peter Thiel.<\/span><\/p>\n<p class=\"s3\"><span class=\"s7\">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\u2019s Civic Center Plaza, an unexpected setting for a transaction involving such a famous residence.<\/span><\/p>\n<p class=\"s9\"><strong><span class=\"s8\">A $120 Million Gap Between Asking Price and Sale Price<\/span><\/strong><\/p>\n<p class=\"s3\"><span class=\"s7\">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\u2014or 48%\u2014below that earlier $250 million asking price.<\/span><\/p>\n<p class=\"s3\"><span class=\"s7\">That comparison reflects a reduction from the seller\u2019s asking price, rather than a confirmed discount to market value.<\/span><\/p>\n<p class=\"s9\"><strong><span class=\"s8\">A Mansion With a Remarkable Past<\/span><\/strong><\/p>\n<p class=\"s3\"><span class=\"s7\">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.<\/span><\/p>\n<p class=\"s3\"><span class=\"s7\">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\u2019s death in 2023 ultimately preceded the foreclosure sale.<\/span><\/p>\n<p class=\"s3\"><span class=\"s7\">According to The Wall Street Journal, Thiel views the estate as an investment and plans to upgrade it rather than live there.<\/span><\/p>\n<p class=\"s3\"><span class=\"s7\">Casa Encantada\u2019s sale offers a striking reminder: even properties with extraordinary histories and nine-figure asking prices can end up in foreclosure.<\/span><\/p>\n<p style=\"text-align: right\">By El\u00edas DaSilva | October 6, 2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of Bel-Air\u2019s most celebrated estates has changed hands through foreclosure\u2014and 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\u2019s Civic [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":6770,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,151],"tags":[],"_links":{"self":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts\/6769"}],"collection":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/comments?post=6769"}],"version-history":[{"count":1,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts\/6769\/revisions"}],"predecessor-version":[{"id":6771,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts\/6769\/revisions\/6771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/media\/6770"}],"wp:attachment":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/media?parent=6769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/categories?post=6769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/tags?post=6769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}