Key Takeaways
- • Adam Levinson, managing partner and chief investment officer of Singapore-based Graticule Asset Management Asia, acquired a 30,000-square-foot Bel-Air mansion for $58.5 million, marking the fourth-largest real estate transaction in Los Angeles for 2022.
- • The property, located at 642 St. Cloud Rd. in East Gate Bel-Air, was developed on land originally purchased by the now-defunct Woodbridge Group—a $1.2-billion Ponzi scheme collapsed in 2017—and represents one of the final liquidation assets from that bankruptcy estate.
- • The nine-bedroom, 15-bathroom estate, completed in 2022, features a three-story glass and steel main residence, guest house, dual garages with capacity for 12+ vehicles, infinity pool, and terraced landscaping on one acre; it was marketed as a $75-million pocket listing but never officially listed before sale.
- • The property appreciated significantly from its $18.2-million 2016 acquisition price as vacant land, reflecting the value creation through development by Viewpoint Collection, Plus Development, and BULLI design firm.
- • Levinson has demonstrated sustained interest in premium Bel-Air real estate, having previously purchased an 82,000-square-foot vacant lot in the same market in 2019 for $37.5 million.
Summary
Adam Levinson, managing partner and chief investment officer of Graticule Asset Management Asia, a Singapore-based hedge fund, completed the acquisition of a newly developed Bel-Air estate for $58.5 million on behalf of himself and his wife, Brittany Levinson. The transaction, reported by Dirt.com, represents the fourth-largest real estate deal in Los Angeles for 2022 and underscores continued high-net-worth demand for ultra-luxury residential properties in the Los Angeles market.
The 30,000-square-foot property at 642 St. Cloud Rd. in East Gate Bel-Air comprises nine bedrooms and 15 bathrooms across a three-story main residence featuring glass, steel, and exotic stone construction. The one-acre compound includes a separate guest house, dual garages with capacity for at least 12 vehicles, an infinity-edged swimming pool, and landscaped gardens. Completed in 2022, the estate was marketed as a pocket listing with a $75-million asking price but was never formally placed on the open market prior to Levinson's acquisition.
The property carries a notable provenance tied to a major financial fraud. The underlying land was purchased in 2016 for $18.2 million by the Woodbridge Group, a real estate investment entity that subsequently collapsed under a $1.2-billion Ponzi scheme orchestrated by real estate developer Robert Shapiro. Following Woodbridge's bankruptcy filing in 2017, the liquidation of its substantial asset portfolio extended over multiple years. The Bel-Air mansion was among the final assets to be liquidated and was developed by Viewpoint Collection, Plus Development, and BULLI design firm specifically for sale on behalf of the company's creditors.
Levinson's purchase reflects his established investment thesis in premium Los Angeles real estate. In 2019, he acquired an 82,000-square-foot vacant lot in Bel-Air for $37.5 million, demonstrating a pattern of capital deployment in the ultra-luxury market segment. His acquisition of this newly completed estate at a substantial discount to its initial $75-million listing price indicates either opportunistic timing within the luxury market or a negotiated private transaction reflecting current market conditions.
The 30,000-square-foot property at 642 St. Cloud Rd. in East Gate Bel-Air comprises nine bedrooms and 15 bathrooms across a three-story main residence featuring glass, steel, and exotic stone construction. The one-acre compound includes a separate guest house, dual garages with capacity for at least 12 vehicles, an infinity-edged swimming pool, and landscaped gardens. Completed in 2022, the estate was marketed as a pocket listing with a $75-million asking price but was never formally placed on the open market prior to Levinson's acquisition.
The property carries a notable provenance tied to a major financial fraud. The underlying land was purchased in 2016 for $18.2 million by the Woodbridge Group, a real estate investment entity that subsequently collapsed under a $1.2-billion Ponzi scheme orchestrated by real estate developer Robert Shapiro. Following Woodbridge's bankruptcy filing in 2017, the liquidation of its substantial asset portfolio extended over multiple years. The Bel-Air mansion was among the final assets to be liquidated and was developed by Viewpoint Collection, Plus Development, and BULLI design firm specifically for sale on behalf of the company's creditors.
Levinson's purchase reflects his established investment thesis in premium Los Angeles real estate. In 2019, he acquired an 82,000-square-foot vacant lot in Bel-Air for $37.5 million, demonstrating a pattern of capital deployment in the ultra-luxury market segment. His acquisition of this newly completed estate at a substantial discount to its initial $75-million listing price indicates either opportunistic timing within the luxury market or a negotiated private transaction reflecting current market conditions.
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