Welcome back to the Real Estate newsletter. As home prices keep setting records, one hedge fund manager is seeing just how far he can go.

Bruce Kovner, an investor who also serves as chairman of the board of the Juilliard School, trotted his Carpinteria compound onto the market this week for $160 million. That makes it the priciest property currently available in California. (Well technically, this humble single-story home in the city of Vallejo is listed at $400 million as of Aug. 19, but I’m going to chalk that up to a clerical error — although I do respect the ambition.)

If Kovner gets his price, it’ll be the second-highest home sale the state has ever seen, just behind the $165 million that Amazon’s space-savvy co-founder Jeff Bezos paid for the famed Warner Estate in Beverly Hills last year.

Meanwhile, Michelle Pfeiffer got her price in the Palisades. She flipped a French-style manor for $25 million, or $2.75 million more…

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