Tyra Banks is the latest celebrity to make a move in Malibu.
The “Top Model” creator and host, supermodel and entrepreneur paid $4.7 million for a beach house on the Pacific Coast Highway, according to Dirt.
The home was built in the early 1980s, is about 4,100 square feet with four bedrooms and four bathrooms. It has direct access to the beach.
Malibu is always one of the priciest and most desirable markets in Los Angeles County, but it’s been red-hot in the last few months. The median sales price hit $5.1 million in the fourth quarter, a nearly 71 percent increase from a year prior, and a 30 percent increase from the third quarter.
At least two Malibu homes have traded for more than $20 million since the New Year: Investment banker Ken Moelis paid $22 million for a beach house next to his existing property, and cosmetics entrepreneur Chris Tawil flipped a beach house for $23.5 million.
Banks, joins a growing list of celebrities who have bought and sold there, too. Among a host of others, “Wonder Woman” star Gal Gadot and singer Avril Lavigne bought homes in Malibu late last year. This week, Laurene Powell Jobs added a third property to her assemblage in Paradise Cove. Jobs, the widow of Steve Jobs, paid $17.5 million for an oceanfront property that sits adjacent to her compound in the central Malibu neighborhood.
[Dirt] — Dennis Lynch