Aave founder Stani Kulechov has acquired a £22 million ($30 million) mansion in London’s Notting Hill, sealing one of the most expensive residential deals of the past year in a luxury property market under pressure from higher taxes and weaker demand.
Key points to remember:
- Aave founder Stani Kulechov has bought a mansion in Notting Hill for £22 million, one of London’s most expensive property deals of the last year.
- The purchase was made at a discounted price amid weaker demand in the city’s luxury real estate market and higher taxes.
- The deal comes as Kulechov remains a central and controversial figure in Aave’s governance.
Property records show the purchase was completed in November, just days before the British government presented its latest budget, according to Bloomberg.
The agreed price was around £2 million lower than earlier forecasts circulated by brokers involved in the sale, reflecting the softer conditions facing prime London real estate.
Aave Founder Stani Kulechov and His Growing Crypto Empire
The five-storey Victorian house offers stunning views of Notting Hill, one of the capital’s most sought-after areas.
Kulechov, born in Estonia and raised in Finland, founded the decentralized finance platform Aave in 2017.
He is currently the CEO of Avara, the parent company behind a growing suite of crypto-focused projects, including social network Lens Protocol, stablecoin GHO, and a digital wallet product called Family.
Aave has become one of the largest DeFi lending platforms in terms of total value locked, making Kulechov one of the most prominent figures in the industry.
JUST IN: AAVE FOUNDER BUYS £22M LONDON MANSION@StaniKulechovthe founder of @aave $AAVEbought a London mansion worth £22 million (~$30 million).
The property is in Notting Hill, one of London’s most exclusive areas, and is five storeys tall.
According to… pic.twitter.com/aH6TeUJCEN
– BSCN (@BSCNews) February 3, 2026
JUST IN: AAVE FOUNDER BUYS £22M LONDON MANSIONThe deal stands out during a difficult year for London’s high-end property market.
Sales of homes priced above £5m fell sharply in 2025, weighed down by rising stamp duty and the removal of tax breaks previously enjoyed by wealthy foreign residents.
Data from property researcher LonRes shows that transactions in this bracket were down around 40% in December from a year earlier, and further tax changes are expected to dampen demand in coming years, the report said.
Aave governance dispute reignites debate over founder power
In December last year, Kulechov faced further criticism after purchasing around $10 million worth of AAVE tokens shortly before a key governance vote, sparking accusations that the move was aimed at increasing voting power rather than reflecting long-term alignment.
The controversy came amid a broader dispute within the Aave ecosystem over control of the protocol’s brand and assets.
A proposal submitted in December regarding domain ownership, social media accounts and naming rights drew backlash after one of its authors said it was put to a vote without consent.
Contributors also raised concerns that some product decisions and fee changes have benefited private entities more than the DAO.
Governance data has further fueled tensions, with observers noting that voting power is highly concentrated.
Snapshot figures show the top three wallets control more than half the votes, intensifying concerns about whale dominance and conflicts of interest.
On December 16, Kulechov revealed that the United States Securities and Exchange Commission had concluded its multi-year investigation into the protocol without recommending enforcement action, ending nearly four years of uncertainty.
Aave Labs has also obtained MiCA authorization in Europe and is preparing to launch Aave V4.
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