Netflix co-CEO lists Malibu beach pad for $15M

Netflix bigwig Ted Sarandos listed his Malibu beach house, looking to seize on the continued demand for properties in the oceanside enclave.

The co-CEO and his wife Nicole Avant are asking $14.9 million for the 3,736-square-foot home on Pacific Coast Highway, according to Dirt. They bought the property on La Costa Beach from actor David Spade in 2013 for $8.8 million, meaning a sale at the listed price would be a 70 percent gain from the purchase price.

The home was built in 1996 and has been renovated since. It has four bedrooms and three-and-a-half bathrooms. The rear of the two-story home has balconies and terraces to maximize the views over the Pacific Ocean.

It sits on a 60-foot-wide lot totaling about a quarter of an acre. There is a swimming pool in a central courtyard area lined with hedges and walls for privacy. That area also has a detached structure with a “cabana room” and bar.

It’s a good time to sell in Malibu. Celebrities, executives and heirs alike have been throwing heaps of cash at homes since the pandemic hit, sending the market into overdrive and driving up prices.

Sarandos and Avant have bought and sold several properties in Southern California in recent years, and Netflix has continued to invest in office and production studio space in L.A. as it has expanded.

Currently, they own a 1920s-era estate in Hancock Park and a 17-acre estate in Montecito. They purchased the latter in 2018 from luxury flippers Ellen DeGeneres and Portia de Rossi.

They owned a second home in Malibu for about a year, from 2017 to 2018, before selling it for a modest gain to English pop star Robbie Williams and wife Ayda Field.

[Dirt] — Dennis Lynch