WOW Air CEO Skúli Mogensen pledged his home as $3 million of the collateral he used to obtain funds for fresh equity in the airline last year. Wow Air ceased operations in March, though a West Virginia heiress-turned-arms dealer bought the brand out of bankruptcy and has announced an unlikely scheme to fly again.
Now the home at Seltjarnarnes point, near Reykjavík, is for sale. The home is 6780 square feet over 3 stories and is listed at $2 million, so creditors are expected to take a significant loss.
Called “one of Iceland´s most spectacular residencies” it features a “panoramic seascape [with] city and mountain view” and was designed in 2008 by Grandi Studio with interiors by Selma Ágústsdóttir from Namó Design and Gríma Björg Thorarensen from GBT Interiors. Grandi Studio architects also designed Reykjavík City Hall, Iceland’s Supreme Court building, and Reykjavík Art Museum Hafnarhús. Mogensen purchased it in 2016.
Skúli Mogensen was named Businessman of the Year in Iceland for the years 2011 and 2016.