Don’t look now, but another eight-figure sale just closed in Malibu. And it’s got a high-wattage history.
La Villa Contenta, a Malibu estate famously rented by Beyoncé and Jay-Z, has sold for $50 million to an executive at a private investment firm, the Wall Street Journal reported.
The seller was developer Richard Weintraub, president and CEO of Weintraub Real Estate Group. He also built the estate.
Behdad Eghbali, a founding partner at Santa Monica-based Clearlake Capital Group, purchased the estate through an entity.
Spread across 6.5 acres, the sprawling gated compound has 14 bedrooms and 10 bathrooms. It also features a wine cellar, screening room, ballroom and guesthouse. Some of the more intricate furnishings in the home include 18th-century chandeliers, carved marble and mosaic floors.
An infinity swimming pool and desert garden complete the outside.
Aaron Kirman and Maya Hazen Manshel of Pacific Union International, and Chris Cortazzo of Coldwell Banker Residential Brokerage brokered the deal.
Power couple Beyoncé and Jay-Z rented the home for $400,000 last year following the birth of their twins, Rumi and Sir. They later went on to purchase a spec home in Bel-Air for $88 million. Malibu has seen a number of big-ticket items trade this year, proving it’s still one of the hottest residential markets in the county. In the Carbon Beach enclave, Hard Rock Café founder Peter Morton broke records when he sold his beachfront estate for $110 million in January. That deal was then followed by Daryl Katz’ $85 million purchase, and Cindy Crawford’s $45 million sale in the neighborhood. [WSJ] — Natalie Hoberman