Zillow’s co-founder and former chief executive officer is selling his California home.
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Spencer Rascoff listed the Los Angeles property for $24 million, about $7 million more than the home’s $16 million “Zestimate,” or Zillow’s appraisal of what the place is worth.
The median home value in the area, for comparison, hovers around $724,000.
The 12,700-square-foot property, which was remolded by architects Ken Ungar and Steve Giannetti, sits on a half-acre of land in a gated community. It features six bedrooms and nine bathrooms and touts a theater with stadium seating, fitness studio and pool.
“Tucked behind lush hedges, elegant, grand-scale rooms bathed in natural light are graced with stained oak floors, wainscot paneling and high ceilings,” the property’s description reads. “Among the interior highlights: a spectacular chef's kitchen finished with Calacatta marble, lacquered cocktail bar, state-of-the-art theater with stadium seating, and an expansive master suite boasting a large private balcony and dual bathroom suites.”
The home also comes with a two-bedroom guest wing, motor court, spa, pool and mudroom. Its French doors open to a dining terrace that overlooks a rolling lawn and barbeque area. And if that isn’t enough style, the home also has a high-end wine cellar.
Rascoff, who stepped down from Zillow last year, bought the property for $19.7 million in 2016 from investment banker Michael J. Richter, who reportedly paid $9.3 for the home in 2012, according to Zillow. Josh and Matt Altman of Douglas Elliman are the listing agents.