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Miranda Kerr and Evan Spiegel wait nearly two years to secure $208.4m LA compound

Supermodel Miranda Kerr and husband Snapchat founder Evan Spiegel have finalised a whopping multimillion dollar deal for their own LA estate across the street from the Playboy Mansion.

When Snapchat founder Evan Spiegel and supermodel Miranda Kerr shelled out $25m A$35.9m for a home in Los Angeles last year the couple still had a long road to go for the plot of land they wanted to buy next door.Almost two years later Spiegel and Kerr finally closed on the second parcel of land in the Holmby Hills neighbourhood for a whopping $120m A$172.5m.In total their new compound now comes out to a hefty $145m A$208.4m price tag according to Dirt.The reason it took so long to close on the home comes down to construction the Post reports.Since the mansion is undergoing a multi-year build certain construction phases had to be completed before they can officially take ownership of the estate.This marks one of the highest sales in the state of California behind Marc Andreessens $177m Malibu home and Jeff Bezos $165m Beverly Hills estate.

Located across the street from the Playboy Mansion the combined 1.61ha property was sold to them by British billionaire Ian Livingstone who had purchased the two parcels for $72m back in 2014 and 2017.He then began combing both properties into one enormous estate with construction costs estimated at tens of millions before later flipping the property to Spiegel.Spiegel and Kerrs $125m deal was backed by a $50m mortgage.At the time of the couples purchase Snapchat shares were trading at record highs and Spiegels net worth was pegged at more than $10 billion according to Forbes.Now with the companys diminishing revenue decreased stock price and uncertain economy his net worth has crumbled by $7.5 billion.Stephen Resnick and Jonathan Nash of Hilton & Hyland held the listing. Drew Fenton of Hilton & Hyland repped the buyer.

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