Posted on 03/09/2023 3:36:11 PM PST by lowbridge
The winner of the $2 billion California Powerball, Edwin Castro, has just dropped $25.5 million on a luxe Hollywood Hills mansion, The Post can confirm.
Castro, who claimed the winning ticket just last month, opted for the onetime lump sum payment of $997.6 million, lottery officials said. (He also had the option to accept payment in an annuity, which would get doled out in 30 graduated payments over 29 years.)
And it looks like he wasted no time putting his new money into some new real estate.
Made up of five bedrooms and seven bathrooms, the sprawling property occupies more than 13,500 square feet of living space.
Castro received a slight discount on the home. It initially listed for $29.95 million.
Standing behind private gates above the famed Chateau Marmont, it was created by Roman James Design and comes with all the luxe amenities imaginable.
Pegged as an “entertainer’s dream,” amenities include a game room, a wine cellar, a movie theater, a bar, and a fitness studio with a hot and cold plunge.
Exterior features include an infinity pool, a spa, two fire pits and a built-in barbecue area.
Panoramic views of Downtown LA to Century City are seen through a wall of Fleetwood glass doors, the previous listing notes.
(Excerpt) Read more at nypost.com ...
True that. I’ve already looked up good financial planners here.
I would love to win, keep a few mil for myself and my daughter and her extended family. Then give the rest to worthy charities. Just think of all the good you could do in the world with that pile of bucks. Yes, this guy’s house is over the top. I’d buy a house very close to the senior apartment I live in so I’d stay connected to friends. $500k to a mil would do it, plus a limo and chauffeur because my eyesight is shot.
Building housing for homeless people in my city would be good. Need to get them off the streets for their sake and ours.
I’ve already traveled all over the world, so that traveling doesn’t interest me.
He will be broke in 10 years.
Dead not long after.
Odds against him BUT,,,
If I got a 997 MILLION !?!
There Would be Some changes Around HERE!
A week ago I took a day trip to Alpine,NJ...an obscenely wealthy suburb of NYC (8 miles from the George Washington Bridge).On the way home I passed through Palisades,NY,the town immediately north of Alpine. I happened upon a house for sale there listed for $2 million. I checked the website and found that the property taxes were $45,500 a year!
FED top income bracket is 37%. $997.6M x .37= $369.1M.
He cleared $628M
If I was going to spend $25 million on a house it would be in the middle of several hundred acres of land.
“What’s with all you people predicting horrible things for this lucky guy? “
That’s the history of what normally happens .
Hopefully this guy knows that history and beats the odds .
One could do a ton of good with that money.
It’s a party-type house, not a “home”.
Whatever, it’s his money.
2 years max.
What would I do you ask???
Put it in the bank and keep my mouth shut.
I’m sure he’ll be welcome in the neighborhood.
walk it like you talk it.
It is too hot there. 110 degrees in the summer.
Plus he will be robbed.
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