Vice Media cofounder Shane Smith has quickly found a buyer for his $50 million home in Los Angeles, according to property listings.
Just six weeks after it was listed, the sprawling 13-bedroom, 14,000-square-foot abode, known as Villa Ruchello, went into contract over the weekend, although the final price paid won’t be made public until the sale has officially closed. Houses in this price range usually stay on the market much longer, especially during times of economic difficulty.
Smith bought the property, which is situated on one of the largest residential lots in Santa Monica and previously made cameos in “Entourage” and “Beverly Hills Cop,” in 2015 for $23 million and has since undertaken a huge renovation.
The result of that is a sprawling Mediterranean-style estate, spread across three structures dating back to 1932. Features include grand archways, a library complete with a secret bookshelf that opens to reveal an onyx-walled speakeasy bar, a wine cellar, a 74-foot pool, a bocce court and an outdoor cedar soaking tub.
In addition to the main property, there are two guest houses each with two bedrooms — one features meeting rooms and a large chef’s catering kitchen, while the second cottage-style guest house is separated for privacy from the other living quarters, the listing showed.
“We had a vision of a Chateau Marmont-style escape with the dual ability to throw lavish parties and feel homey and secluded at the same time,” Smith told property site Mansion Global last month of the renovation. “A sort of mini-resort with the best poolside living in L.A. and a vista from every window.”
Smith cofounded Vice in the mid-1990s. In 2018, he stepped down as chief executive officer amid ongoing controversy over the company’s culture and took on the executive chairman role, making way for Nancy Dubuc. A year later, Brooklyn-based Vice acquired women’s lifestyle publisher Refinery29 in a $400 million deal.
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