Nearly 24 years ago, in December 2000, Jim Demetriades and his then-new wife Nancy began building out a lavish estate that included a home they purchased for $8.4 million. Never before on the market, the veteran tech entrepreneur's one-of-a-kind sprawl known as “Villa Theos” is now for sale in Los Angeles' popular Beverly Hills Post Office District, asking a staggering $85 million.
It was first reported The Wall Street JournalThe gated complex of red brick and stucco buildings cost tens of millions of dollars to build and includes a since-renovated main home and several outbuildings. It has 13 bedrooms and 16 bathrooms in a total of 28,000 square feet, all set on more than two acres of land across two parcels. It boasts a selection of amenities, from a bowling alley and nightclub to a shooting range and an underground hideout/bunker accessed via a tunnel.
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“Jim and I really sat down and thought, 'OK, if we could have anything we wanted, the sky's the limit. What would we want?' And we did,” Nancy said. The Wall Street Journal.
The result is a primary residence with a formal living room with reclaimed wood beam ceilings, a wet bar and an antique fireplace imported from France, and a luxurious master bedroom with a separate sitting room with fireplace and double bathroom. Surrounding areas are multiple guest houses and office spaces, and the recently completed “Coach House” features a Western-era themed nightclub with a disco ball, velvet sofas and a custom 50,000 watt speaker system with subwoofers built into the ceiling.
But there's more: There's also a 20-seat movie theater, a bowling alley, a shooting range, a gym, and classrooms for the couple's five adult children, plus an underground hideaway/emergency shelter with bulletproof doors and a 4,500-bottle wine cellar. Finally, the resort-worthy grounds overlook picturesque city lights and ocean views and feature some 140 fruit trees, great spots for outdoor lounging and entertaining, an infinity-edge pool, and even a chicken coop.
according to The Wall Street JournalBorn in Greece and raised in Pasadena, he is the founder and CEO of Kairos Ventures, a venture capital firm that invests in groundbreaking startups and research in technology, life sciences and physical sciences. He and his wife, a former actress, cited “facing the prospect of their children becoming independent sooner than expected” as the reason for selling.
The property is listed by Drew Fenton of Carolwood Estates and Kurt Rappaport of Westside Estate Agency.
Click here to see more photos of Villa Theos.
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