By Ricardo Roura
Jun 20, 2024, 8:45 PM EDT
With $210 million dollars, a mansion located in Malibu became the most expensive house sold in California history.
The property, which is located on Pacific Coast Highway near El Pescador State Beach in Malibu, was sold by Oakley founder James Jannardsaid the Los Angeles Times.
The $210 million dollars for which the mansion was purchased exceeds the previous record, held by another mansion in Malibu, by $10 million dollars. which was acquired by Jay-Z and Beyoncé last year.
Jannard, who founded eyewear and clothing giant Oakley, Inc. in 1975, made a good financial profit from the sale of the 9.5 acre propertywhich has 300 feet of ocean frontage.
According to the Los Angeles Times, Jannard purchased the property from billionaire investor Howard Marks for $75 million.. Before Marks, Herbalife co-founder Mark Hughes was a resident of the mansion.
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Spanning over 15,000 square feet, it is an Italianate-style villa built by Ferguson & Shamamian Architects. The main house has eight bedrooms, 14 bathrooms and interior decoration by Michael S. Smith, who was responsible for the renovation of the White House Oval Office.
Besides, the property has two guest houseswith a large patio, well-trimmed lawn, and a pool overlooking the Pacific Ocean.
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Although the identity of the buyer was not immediately released, records obtained by the Los Angeles Times indicated that It was a limited liability company based in Delaware.
Recently, Jannard also put another of his residences up for sale, a “kind of stone monolith” in Beverly Hills, for $68 million.
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In Malibu The three most expensive properties in all of California are found: Jannard’s recently sold mansion, Jay-Z and Beyoncé’s estate, and an estate in the luxurious Paradise Cove neighborhood of the upscale coastal community purchased by billionaire Royal capitalist Marc Andressen for $177 million in 2021.
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