09/02/2010 07:27 pm ET | Updated May 25, 2011

Andrey Melnichenko, Russian Billionaire, Rumored To Be Buying An Entire Block Of Ocean Front Walk In Venice

Via Yo Venice comes the surprising rumor that Russian billionaire Andrey Melnichenko is interested in a most unlikely bit of beachfront property, miles from "billionaires beach" further up the PCH. According to a source, Melnichenko is looking to buy a full city block of Ocean Front Walk in Venice:

I cannot confirm yet but my source says the Russian Billionaire with the ridiculous 300 million dollar yacht is buying an entire OFW block. Being familiar with the current properties for sale on OFW I checked with my title company and found that a title order had recently been opened on the multiple properties in the 500 to 600 block of OFW.

The Wall Street Journal took a tour of his Philippe Starck dessigned mega-yacht which has been seen up and down the California coast in recent weeks. Curbed LA notes that as of August 30, the "A" was docked at the Venice Pier, could the Russian billionaire be scoping out his new neighborhood?