Natural gas billionaire said to be buyer of $110M Carbon Beach pad

If the sales price is accurate, it would be the highest paid for a LA property in history

Apr.April 20, 2018 05:00 PM
The beach house on Malibu’s Carbon Beach (Credit: Richard Meier & Partners Architect LLP)

A name has been put to the buyer on a record-breaking $110 million sale on Malibu’s Carbon Beach.

The luxury real estate blog Yolanda’s Little Black Book has identified natural gas billionaire Michael S. Smith and his wife Iris as the buyers of Hard Rock Café founder Peter Morton’s beachfront home.

If the rumored sale price is accurate, it would be by far the most expensive sale in all of Los Angeles. Fitting for an uber exclusive beachfront neighborhood often called Billionaire’s Beach.

The home was designed by famed architect Richard Meier for Morton in the early 2000s. Meier took a six-month leave in March after five women accused the Pritzker Prize-winning architect of sexual misconduct.

A 4,600-square-foot main house features four bedrooms, 4.5 bathrooms, a screening room and a garden. The property also features a 2,300-square-foot, two-story guesthouse with three bedrooms and 3.5 bathrooms. A different Michael S. Smith, best known as the interior decorator for the White House under former President Obama, designed the interiors, according to Yolanda’s Little Black Book.

The Smiths have been based in Los Angeles for about a decade. Smith is the chairman and CEO of Houston, Texas-based Freeport LNG, a natural gas exporter. The Smiths also run a private investment firm called Blue Spruce Capital Corporation. [Yolanda’s Little Black Book] – Dennis Lynch 

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