Facebook's Zuckerberg plans to demolish and rebuild his four-home complex

May 24, 2016 1:55 PM

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Facebook's Zuckerberg plans to demolish and rebuild his four-home complex

Zuckerberg paid way over market rates. One of his neighbors who spoke to CNBC on condition of anonymity said at the time that the Facebook founder paid over $14 million for a house that would not have gone for more than $4 million before he came to the area. In total, Zuckerberg paid more than $30 million for the four homes adjacent to his main property.

Mircea Voskerician had agreed to buy a piece of property behind Zuckerberg's home for $4.8 million, the newspaper said. However, Zuckerberg didn't want development around his house, so he paid Voskerician $1.7 million to give up the right to the property, and then another $4.8 million to buy it from...

Also read: Baseball’s Matt Kemp Lists His California ‘Dream House’

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