Bob Zangrillo, the Miami-based real estate developer and venture capitalist known for his playboy lifestyle and involvement in the highly-publicized college admissions scandal, has put his part-time Los Angeles home on the market for $48 million. Located in the exclusive Bird Streets area of the Hollywood Hills, the palatial estate spans more than 1.5 acres, according to listing information, and includes a mansion with sweeping views of the entire L.A. basin.
Tax records say the 14,000 sq. ft. house was built in 1922, though it’s clearly undergone several major renovations and expansions since. Today, the structure flaunts an ’80s modern look, with blocky architecture and starkly austere decor, though Zangrillo gave the place a cosmetic refresh within the last few years. Walls of glass sliders spill out to various patios and pathways leading down to a sparkling plunge pool.
Zangrillo purchased the property through a trust in 2013, paying $20 million, and the Burning Man enthusiast believes the estate’s value has more than doubled in the seven years since. Included with the current listing are approved dirt haul-out permits and plans for a new 30,000 sq. ft. contemporary compound designed by South Africa-based architecture firm SAOTA — it would appear Zangrillo originally sought to demolish and replace the existing home but never got around to completing the project.
But the current house is completely livable, with 6 bedrooms, 11 baths, a professional screening room, and a sumptuous kitchen with all the latest appliances. The estate is also exceptionally private, secreted at the end of a hidden cul-de-sac, and hidden behind towering gates that guard a palm-tree lined driveway.
Now in his early 50s, Zangrillo served as CEO of e-commerce software supplier InterWorld before founding private investment firm Dragon Global, through which he claims to be a significant early investor in Facebook, Uber, and Twitter. Those lucrative tech stakes provided him the funds to become the largest stakeholder in Miami’s controversial Magic City development.
The legally-embattled businessman is also known for lavish Gatsby-esque parties, many of them thrown at his Hollywood Hills mansion, which previously attracted a celebrity attendees that included the Hadid family, Snoop Dogg, and the Kardashians. Besides the Hollywood compound, he also owns a waterfront home in Miami that was custom-built in 2016 and designed by SAOTA.
Last year, Zangrillo pleaded not guilty to a slew of charges related to Operation Varsity Blues, including conspiracy to commit money laundering and conspiracy to commit mail fraud. Prosecutors say he paid $250,000 to have his complicit daughter Amber Zangrillo falsely designated as a crew recruit to USC, and additionally hired an imposter to take some of Amber’s college classes for her. His trial is scheduled for October.
James Harris of The Agency and Drew Fenton of Hilton & Hyland hold the listing.
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