Stani Kulechov, the entrepreneur behind decentralized lending platform Aave (AAVE), has acquired a sprawling mansion in London's Notting Hill for £22 million, making it one of the most significant residential transactions of the past year in the city's troubled high-end property market.
The deal closed in November, just days before the UK government unveiled its latest budget, Bloomberg reported.
Filings show the final price came in roughly £2 million below the asking figure initially listed by brokers handling the sale.
A Five-Floor Victorian Showpiece
The property spans five floors and offers sweeping views across the Notting Hill neighborhood. A spokesperson for Kulechov declined to provide further details about the purchase.
Kulechov was born in Estonia and raised in Finland.
He founded Aave in 2017 and now serves as chief executive of Avara, the parent company overseeing a portfolio of crypto ventures.
These include Lens Protocol, a blockchain built for social media applications, the GHO stablecoin project, and Family, a cryptocurrency wallet.
A Bright Spot In A Difficult Market
The acquisition stands out in what has been a punishing stretch for London's luxury housing sector.
Also Read: Solana Is Stuck In Meme Coin Mode And That Is Costing It Dearly, Says Standard Chartered Tax changes introduced by the Labour government, including higher stamp duties and the removal of favorable treatment for wealthy foreign residents, have weighed heavily on demand.
Data from property researcher LonRes shows that sales above £5 million fell 40% in December compared to the same period a year earlier.
Further tax increases scheduled for 2028 are expected to add more pressure.
West London Remains A Magnet For Big Deals
Despite the broader slowdown, certain pockets of West London have continued to attract wealthy buyers.
Notting Hill and Holland Park accounted for many of the city's largest residential transactions in 2025.
According to Savills, Notting Hill recorded the strongest price growth among all prime central London districts in the final quarter of the year.
Read Next: Banks And Crypto Giants Are Battling Over Your Money And Washington Can't Pick A Side
