Marc Andreessen pays a record $ 177 million for the Malibu mansion

In a landmark deal, billionaire venture capitalist Marc Andreessen paid $ 177 million for a large estate in Malibu. It is the highest paid house in California, breaking the previous record set by Jeff Bezos last year

Records show that the seller was Serge Azria, a fashion mogul behind clothing lines like Joie and Equipment. He bought the seven-acre property for $ 41 million from late film producer Jerry Weintraub in 2013 and quietly bought it for $ 218 million.

Kurt Rappaport of the Westside Estate Agency, who handled both ends of the deal, could not be contacted for comment.

Andreessen is an investor and software engineer who co-founded Silicon Valley venture capital firm Andreessen Horowitz in 2009 and co-created Mosaic, one of the first web browsers. Forbes has anchored that of Andreesen net worth at $ 1.6 billion at the close of market trading on Friday.

He also owns a home in Silicon Valley, but his new home is much larger. Photos are scarce, since the house was never listed on the Multiple Listing Service, but aerial images show the property is on a long, slender lot that stretches from Pacific Coast Highway to the ocean about halfway. between Paradise Cove and Escondido Beach.

The property makes the most of its space, squeezing into multiple guesthouses, guard houses, a swimming pool, and a box garden. Perched on the edge of the property, the Scott Mitchell-designed main house overlooks the ocean from multiple patios and terraces. A winding path leads down to the beach.

The house adjoins an impressive modern complex owned by the estate of William Bell and Lee Phillip Bell, the late husband and wife who together created the soap operas “The Young and the Restless” and “The Bold and the Beautiful”. Kevin Garnett’s semi-finished house, which sold over the summer for $ 16 million, it’s across the street.

The giant deal is the icing on the cake this year record-breaking real estate market in Southern California. The region’s average selling price rose to all-time highs, but the ultra-luxury market was a little quieter than usual, with no sales north of $ 100 million.

The $ 177 million price beats the previous California record, set last year when Bezos paid $ 165 million for David Geffen’s famed Warner estate in Beverly Hills. It is also the second most expensive home sale ever sold in the United States, behind Ken Griffin’s $ 238 million purchase of a New York penthouse overlooking Central Park.

This is the third consecutive year that the California record has been broken. Before Bezos, Bel-Air’s “Beverly Hillbillies” building held the top spot after media mogul A. Jerrold Perenchio sold it to Lachlan Murdoch for $ 150 million.

The sale also redefines the high-end Malibu market, which has always seen expensive sales but has not yet reached the top of business in Westside tony communities like Beverly Hills and Bel-Air. Previously, the Malibu record was held by hotelier Peter Morton, who sold his oceanfront complex on Billionaires Beach to natural gas billionaire Michael S. Smith for $ 110 million in 2018.

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