Private Equity Billionaire José E. Feliciano Buys $50 Palisades Million Mansion, Narrowly Avoids New Mansion Tax

Feliciano and wife Kwanza Jones upgrade to neighboring home in Pacific Palisades

By Dolores Quintana

Private equity firm CEO and founder José E. Feliciano, no relation to the singer, and his wife Kwanza Jones have purchased a new home in the same neighborhood where they already live in the Pacific Palisades. They are trading their former $20 million home for a $50 million spread that is brand new, it was never formally listed for sale, and was built on spec. The home was represented for sale by the Altman Brothers team within Douglas Elliman by Josh, Matt and Heather Altman. 

They managed to close the deal shortly before the ULA tax took effect on April 1, which saved the multimillionaires some $2.7 in taxes. 

The home was sold by an LLC that has been linked to David Sackler, of the Oxy-Contin Sacklers, who profited from the marketing and overprescribing of the opioid pain killer, sold by their company Purdue Pharmaceuticals which caused a deadly opioid crisis of deaths, misery and painful addiction all over America. The company went bankrupt in 2019 after being sued multiple times and entering into a settlement agreement but not until after the Sacklers had pockets of at least $13 billion in profits. The family has been called the “worst drug dealers in history.”

David Sackler bought the parcel in 2017 for $11 million and promptly demolished the 1970s-era house on the site in a Palisades Riviera neighborhood. Reportedly, the new estate was designed by Sinclair Associates Architects. The interior design comes courtesy of Dejager Design.

Details about the estate are screened from view from the street by abundant greenery and it appears at first glance to merely be a standard and somewhat humble for the price. But seen from the back, there’s much more going on out of sight, and has numerous levels and patios for entertaining that have a great view of the Riviera Country Club and the Pacific Ocean. Inside it has six bedrooms, and nine bathrooms and outside it has a sizeable hot tub and an enormous infinity pool

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