Midcentury Modern Home of ‘Spongebob SquarePants’ Creator Sells in Bidding War to Billionaire

By James McClain

Well, that didn’t take long. Only a month after it first popped up for sale, the stunningly preserved San Marino home of the late Stephen Hillenburg has sold for about $5.1 million in an all-cash deal — an almost unbelievable $1.1 million more than the $4 million asking price and more than double what the “Spongebob SquarePants” creator paid for the place in 2006.

Records reveal the ferocious bidding war’s winner is Hong Kong-born billionaire Gerald Chan, a naturalized U.S. citizen who made his fortune in shopping malls and other real estate holdings in Hong Kong and Mainland China, and in private equity and venture capital investment stateside. In 2014, Chan and his brother Ronnie — who are together worth $2 billion, per Forbes — donated $350 million to Harvard University, the largest single donation in the school’s history up to that point.

To read the full article visit their website here.

You Might Also Like...
Recent Posts

Deasy Penner Podley Contributes to Leading Real Estate Companies of the World 2021 REimagine Annual Conference

Following a year of pandemic lockdown, Los Angeles has emerged as one of the hottest and most complex national housing markets. Deasy Penner Podley continues to hold a leadership position in our community. DPP sees the real-time needs of our buyers and sellers and provides pinpoint solutions. Our partnership with Leading Real Estate Companies of… Keep reading

Spanish-inspired Art Deco Estate

This once in a lifetime Flintridge estate has every amenity you can imagine. The magnificent home is a unique blend of Spanish Colonial Revival and Art Deco architecture. The design, appears to be a collaborative design by L.G. Scherer, the principal of the building firm, and Pasadena architect, Cyril Bennett, built by L.G. Scherer, and… Keep reading

June 2021 Newsletter