Earlier this year, as stock markets began nosediving, famed financier Adam Levinson told Bloomberg that he was crafting an “anti-portfolio” of developed-market bonds as a hedge against inflation. That bearish bet goes starkly against conventional market wisdom of the past decade, which saw American tech stocks outperform almost everything else to create vast and easy wealth for many people.
But be that as it may, it seems Levinson remains bullish on American luxury real estate. Records reveal the Singapore-based Graticule Asset Management founder and his wife Brittany have paid a whopping $58.5 million for an estate in Los Angeles, marking the city’s fourth-biggest deal of the year.
Located in the ultra-posh East Gate Bel Air neighborhood, Levinson’s new digs are surrounded by some of the priciest homes in all of California. The one-acre property last sold for $18.2 million in 2016, when it was acquired as vacant land by the Woodbridge Group, a now-defunct $1.2 billion Ponzi scheme run by real estate developer Robert Shapiro. While Woodbridge went bankrupt in 2017, the process of liquidating the company’s vast holdings has taken years; this particular house is one of the final assets to be sold.
The vacant lot was developed by Viewpoint Collection in collaboration with Plus Development and BULLI design-build firms, and sold on behalf of Woodbridge’s creditors. Completed this year, the house never had a chance to officially list before Levinson scooped…
