Ivanhoe Mines founder Robert Friedland invested in a sophisticated modern-style in Los Angeles this month. The financier spent $23 million for the property, which is located in the Bird Streets neighborhood above the Strip and—after three years on the market—had been steeply discounted from its somewhat optimistic initial post-renovation asking price.
The property’s recent history is a bit of an odyssey. According to public records, it sold in 2012, when it yielded $6.65 million on the open market. It was listed again less than two years later, at just under $15 million; it then vanished from the market, and in the intervening years a complete renovation was conducted. The property surfaced again on the open market in 2017, priced at $44 million.
The house is built into a hillside, offering views of Los Angeles and environs from upper and lower sections, and opening broadly onto the city through a seemingly endless series of optional glass walls. This is a house that isn’t shy about showing off, and a motif of highly figured slab marble begins as a preamble facing the motor court, and continues throughout.
This is also a fairly large dwelling, with nearly 12,000 square feet of interior living space. There are five bedrooms and six baths in the home, including a master suite with a specially-designed walk-in closet. Standout common rooms include the library/reading room, home cinema/lounge, and spa. A guest house on the .8-acre property is accessible via an underground passage.
Friedland’s net worth is north of $1 billion.