Billionaire Bobby Murphy Gobbles Up Neighboring Home in PacPal for $9.5M

Published: October 31, 2019 | By: American Luxury Staff

Last year, Snapchat co-founder Bobby Murphy snapped up Eddie Albert’s one-time PacPal hacienda for $19.5 million. He augmented the property this week with an adjacent residence, spending nearly ten million dollars to flesh out the less than one acre he currently owns in this particular corner of the neighborhood.

The Albert house is now history; it was a Spanish-style from the 1930’s, and judging by photos available online quite beautiful. It can be expected that the recent purchase will also result in a razing.

Murphy and wife Kelsey Bateman have in mind a custom estate on the now-houseless combined lot. The new acquisition doubles the size of the couple’s estate.

Market estimates pegged the property value at around $7.5 million, indicating that Murphy paid as much as $2 million over the home’s current open-market expectation for a sale. The exchange was amenable for all concerned, apparently.

Murphy co-founded Snapchat in 2011. His net worth is around $3 billion.

Photo credit: Google Maps

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