Billionaire Sells $33M Mansion to Focus on $2 Billion Yacht Project

Frank Binder, billionaire heir to the Swiss pharmaceutical company Merck Serono, has listed his Hollywood Hills mansion for $35 million. The property was purchased by Binder in 2018 for $33 million and underwent a major renovation led by musician and designer Lenny Kravitz's company, Kravitz Design.

The 10,700-square-foot mid-century modern home features four bedrooms, seven bathrooms, and several levels with wide views of the Los Angeles skyline. The estate includes a commercial-grade kitchen, temperature-controlled wine cellar, and a large primary suite that opens directly onto private terraces.

Binder's decision to sell the property comes as he focuses on his biggest project yet: the construction of Ulyssia, a 323-metre mega-yacht designed as a floating residential community with 122 luxury apartments. The yacht is being built at a cost of $2 billion and will have facilities such as medical and wellness centres, padel tennis courts, helicopters, submersibles, restaurants, a school, and a fully equipped marina bay.

The listing reflects continued strength in the high-end Los Angeles property market, where luxury homes with celebrity connections and clear views remain attractive to wealthy international buyers. Binder plans to keep a 1,000-square-metre penthouse on the top deck of Ulyssia, making the vessel his main home around the world.

The $35 million asking price is among the highest residential sales recorded in the Hollywood Hills this year, and if the mansion sells close to its asking price, it will rank among the top deals in the area.