Pharma heir Frank Binder has listed his Hollywood Hills mansion for $35 million, a move that coincides with the commencement of construction on what he describes as the world's largest yacht. The 10,700-square-foot property, designed by Lenny Kravitz, features extensive amenities and panoramic views of Los Angeles and the Pacific Ocean.
The estate includes four bedrooms and seven bathrooms, spread across three levels. Kravitz contributed to the design, incorporating a custom sound system, a 12-foot digital video wall, and floor-to-ceiling televisions. The mansion also features retractable glass walls, a cantilevered balcony, and a 70-foot half-moon infinity pool overlooking the city. The property also boasts a subterranean nightclub with a retro space theme and a climate-controlled wine cellar capable of holding 1,200 bottles.
Binder acquired the property in 2018 for $33 million through a shell company. He previously purchased an adjacent 4.5-acre parcel at 1 Electra Court for $29.5 million in 2018 at auction. That land was part of the dissolution of Woodbridge Group of Companies, which faced allegations of a $1.2 billion Ponzi scheme.
The current listing price of $35 million represents a modest increase from Binder's purchase price, with real estate professionals suggesting it reflects a realistic market assessment. Los Angeles City levies a 5.5% mansion tax on residential sales, which will affect the net proceeds from the transaction.
Simultaneously, Binder is overseeing the construction of his "residential yacht," named Ulyssia, a project estimated to cost over $2 billion. The vessel is planned to be 1,060 feet long, featuring 15 decks, 122 private residences, and 22 guest suites. Prices for residences range from $10 million to $90 million. The yacht is scheduled for completion in 2031 and will operate under the Swiss flag, offering amenities such as a helipad, two submarines, a school, a hospital, and a dental facility. Binder has stated that he has secured over $1 billion in commitments for the project and intends to reside in the largest unit, a 10,700-square-foot penthouse.
