Metro Networks founder Saperstein lists Malibu home for $115M

Saperstein’s 11K sf Malibu getaway is located on 2.6 acres with the requisite tennis court, pool and private access to the exclusive Paradise Cove beach.

TRD LOS ANGELES /
Jan.January 28, 2020 03:00 PM
Billionaire David Saperstein lists Malibu home (Credit: Alfred Yson/Sotheby's International Realty via The Wall Street Journal)
Billionaire David Saperstein lists Malibu home (Credit: Alfred Yson/Sotheby’s International Realty via The Wall Street Journal)

Entrepreneur David Saperstein has put his eclectic Paradise Cove estate — one of Malibu’s largest — on the market for $115 million.

Saperstein, a former car salesman, made his first fortune as founder of Metro Networks, which provides drive-time weather reports to radio stations. Since selling it to Westwood One, he’s gone into the tree-farming business with extensive holdings in Texas and Florida.

His splashy listing is the latest in Malibu, where home sales have been smashing records. Over the summer, NBC Universal executive Ron Meyer sold his oceanfront Malibu compound for $100 million. (The rumored buyer was Whatsapp co-founder Jan Koum.)

In 2018, Peter Morton broke a record when he sold his Carbon Beach estate for $110 million to natural gas billionaire Michael Smith.

Given the comps nearby, Saperstein likely won’t be accused of aspirational pricing that defines much of Los Angeles’ ultra-luxury market.

If Saperstein’s estate were to sell at asking price, it would be the fourth-most expensive California mansion deal in history, behind Lachlan Murdoch’s $150 million purchase of the Chartwell Estate, the Spelling Manor in Holmby Hills selling at $120 million and a $118 million deal in Silicon Valley.

The wedge-shaped Malibu getaway, built in the early 1990s, features two distinct wings connected by a central corridor, with 12 bedrooms and 14 bathrooms spread across nearly 11,000 square feet of space. The 2.6-acre estate also features a tennis court, pool and private access to the exclusive Paradise Cove beach.

Saperstein’s gated home, which is called Mar de Amor (Sea of Love), is characterized by white marble floors and sweeping walls of glass that provide expansive ocean views from virtually every room. The master bath comes with a custom copper soaking tub and a sea view shower.

Neighbors include former Paramount Pictures chairman and CEO Frank Mancuso, and Walmart heiress Anne Walton and her husband, L.A. Rams owner Stan Kroenke. Other nearby neighbors within walking distance include Leonardo DiCaprio, Courteney Cox, John McEnroe, and Jimmy Iovine.

The house features a 20-seat screening room. There’s also an elevator linking the home’s entertainment level to the sprawling catering kitchen.

Saperstein is connected to a piece of real estate that has already entered the $100 million club — his ex-wife Suzanne in 2014 sold the Versailles-style Fleur de Lys in Holmby Hills following their divorce (the price included furniture). Saperstein also sold an equestrian estate in Simi Valley for $33 million in 2016.

The listing, held by Drew Mandile of Sotheby’s International Realty, was first reported by The Wall Street Journal.


Related Articles

arrow_forward_ios
Jeff Bezos and the Beverly Hills home (Getty, Realtor)

Bezos buys Beverly Hills bungalow next to his massive mansion

Bezos buys Beverly Hills bungalow next to his massive mansion
Adam Neumann and the home (Credit: Jackal Pan/Visual China Group via Getty Images and Zillow)

Adam Neumann listing Bay Area “Guitar House” for $27.5M

Adam Neumann listing Bay Area “Guitar House” for $27.5M
Matthew Perry and the apartment (Credit: Kevin Winter/Getty Images and Compass)

Matthew Perry slashes price on massive Century City penthouse

Matthew Perry slashes price on massive Century City penthouse
Lori Loughlin and husband Mossimo Giannulli sold their 12,000-square-foot Bel Air mansion (Credit: Donato Sardella/WireImage via Getty Images and Realtor.com via Dirt.com)

Facing jail time, Lori Loughlin sells Bel Air manse at huge discount

Facing jail time, Lori Loughlin sells Bel Air manse at huge discount
Miley Cyrus cuts $5M off-market deal for a Hidden Hills abode

Miley Cyrus cuts $5M off-market deal for a Hidden Hills abode

Miley Cyrus cuts $5M off-market deal for a Hidden Hills abode
LeBron James and the home at 9955 Beverly Grove Dr.

Another palace for the king: LeBron James buys Beverly Hills mansion: sources

Another palace for the king: LeBron James buys Beverly Hills mansion: sources
James Perse and Ted Waitt (Credit: George Napolitano/FilmMagic via Getty Images)

Gateway computer co-founder picks up Malibu pad for $34M

Gateway computer co-founder picks up Malibu pad for $34M
6156 Ramirez Canyon Road and 20 37th Place (Credit: Redfin)

This way to the beach: Homes next to ocean topped priciest sales

This way to the beach: Homes next to ocean topped priciest sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...