Real Estate

Fisker Founder Lists $35M Hollywood Hills Mansion Amid Financial Struggles

Fisker Lists Hollywood Hills Mansion for $35M Amid EV Startup's Financial Struggles and $26M Market Cap

By Tal Alexander

6/11, 11:16 EDT
Fisker Inc.
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Key Takeaway

  • Henrik Fisker lists his Hollywood Hills mansion for $35 million amid financial struggles, with Fisker Inc.'s stock price between 4 and 5 cents.
  • The luxurious 11,800-square-foot estate features six bedrooms, eight bathrooms, an infinity-edge pool, and sweeping views from Downtown LA to the Pacific Ocean.
  • Despite launching the EV Fisker Ocean in 2022, Fisker's company faces financial challenges with a market cap of $26-$27 million.

Fisker Lists Hollywood Hills Mansion

Henrik Fisker, the founder of the EV startup Fisker, has put his Hollywood Hills West mansion up for sale for $35 million. This move comes as his company's stock price hovers between 4 and 5 cents, reflecting the financial struggles of his venture. The 11,800-square-foot estate, located at 1305 Collingwood Place in the Bird Streets, was purchased by Fisker in 2021 for $21.75 million. Despite an attempt to flip the property two months later for $29.5 million, it remained unsold. The mansion boasts six bedrooms, eight bathrooms, and luxurious amenities such as retractable glass walls, a sauna lined with pink Himalayan salt, and an L-shaped infinity-edge pool.

Luxurious Features and Market Appeal

The mansion's opulent features include a game room surrounded by walls of wine, a ping pong room with glass walls offering views of the Sunset Strip, and a media lounge. The property also has a club room with a bar, a fitness center, and an open-air living/dining room with a soaring ceiling adorned with hanging crystals. The master bedroom includes a large bathroom with a soaking tub and a balcony. Outside, the estate features a kitchen and barbecue area, and a three-car garage that can accommodate up to six cars with a lift. Brokers Joshua Altman and Matthew Altman of Douglas Elliman of California are handling the listing.

Fisker's Financial Struggles

Henrik Fisker's decision to sell his mansion is closely tied to the financial difficulties faced by his EV startup, Fisker. Despite launching the Fisker Ocean in 2022 and beginning deliveries last year, the company has laid off hundreds of employees and is in urgent need of additional funds. The market cap of Fisker is currently between $26 to $27 million, which is less than the asking price of Fisker's mansion. This financial strain highlights the challenges faced by startups in the competitive EV market, where substantial financing and innovative products do not always guarantee success.

Broader Market Context

The sale of Fisker's mansion is part of a broader trend in the luxury real estate market, where high-profile individuals are listing their properties amid financial or personal challenges. For instance, Jennifer Lopez and Ben Affleck recently listed their 38,000-square-foot mansion in Beverly Crest for $65 million, following their rekindled romance and subsequent marriage in 2022. The couple's decision to sell their home, which they purchased for $60.85 million, suggests potential financial losses due to broker commissions, mansion taxes, and home improvements. This trend underscores the volatility and high stakes in the luxury real estate market, where even A-list celebrities and successful entrepreneurs face significant financial pressures.