Monday, November 29, 2021

Billionaire Marc Andreessen Pays Record $177 Million for 13-Structure Malibu Compound

Billionaire Marc Andreessen Pays Record

It appears that the record for the most expensive California house sale has been surpassed again again, this time by a massive Malibu estate. The sales price of $177 million is $12 million higher than the previous record established by Jeff Bezos in Beverly Hills last year. The happy sellers were fashion magnate Serge Azria and his longstanding wife Florence, while the lucky buyers were Silicon Valley venture capitalist Marc Andreessen and his wife Laura Arrillaga, the sole daughter of multibillionaire real estate developer John Arrillaga. The Wall Street Journal was the first to report on the off-market acquisition.

Although the price is unfathomable, this house is laden with features that may make the $177 million price tag seem somewhat worth it — or at least slightly tolerable — to some. For starters, the blufftop property is right over Paradise Cove, arguably Malibu’s most beautiful beach. Furthermore, the estate has approximately seven continuous acres with spectacular ocean vistas that stretch up and down the coastline, catching Point Dume, Catalina Island, and practically everything in between.

marc andreessen net worth
marc andreessen net worth

Serge Azria paid $41 million for the property in 2013. It was originally owned by Hollywood producer Jerry Weintraub (“The Karate Kid,” “Ocean’s Eleven”) and occupied entirely by Weintraub’s wife Jane Morgan, with whom he’d been separated but never divorced for decades. Azria then spent years and undoubtedly tens of millions of dollars rebuilding and refurbishing every inch of the massive estate.

Scott Mitchell, a well-known and regarded architect, was commissioned to build the refurbished estate, which is said to have a whopping thirteen structures distributed across the grounds. A 10,000-square-foot main house, two guesthouses, two barns that were converted into a car collector’s dream garage, a separate screening room, poolside cabana, caretaker’s quarters, and many more structures of unclear use are among the structures on the property.

The buildings’ interiors are distinctly modern in style, but they’ve been imbued with warm hues and soft materials to avoid looking austere. The homes, which are cedar-sided with pitched roofs and preserve their original ranch-y character, contain farmhouse-style elements and allusions to their equestrian history, since the site was previously a luxury horse ranch.

The home was never formally listed for sale on the open market, but it’s commonly assumed that Azria has been marketing it as a pocket listing since at least late 2020, reportedly for $250 million! Even if he didn’t quite obtain his quarter-billion dollars, the final figure is still good enough for the second-largest American property sale history, trailing only a $238 million New York City apartment.

Laurene Powell Jobs, WhatsApp creator Jan Koum, L.A. Rams owner Stan Kroenke, Beats by Dre tycoon Jimmy Iovine, and jet-setting art collectors Bill and Maria Bell are among the other billionaire and near-billionaire inhabitants of Paradise Cove.

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