Silicon Valley venture capital legend Marc Andreessen is the new owner of California’s most expensive house.
The Malibu mansion sold for $177 million earlier this week to the co-founder of Andreessen Horowitz and his wife, Laura Arrillaga-Andreesen. The property had previously been owned by fashion entrepreneur Serge Azria and his wife, Florence.
The Wall Street Journal first reported that the Andreessens were the buyers in the historic sale, based on sources familiar with the deal.
Kurt Rappaport handled both ends of the transaction.
California’s most expensive residential property includes multiple buildings; the main residence is approximately 10,000-square-feet. The seven-acre property is located in Paradise Cove, in Central Malibu.
The Azrias bought the estate in 2013 for $41 million. It was previously owned by Hollywood producer Jerry Weintraub through a trust.
The sale broke a state record previously set by Jeff Bezos when the Amazon founder paid $165 million last year for an estate previously owned by the music mogul David Geffen. Bezos reportedly finalized that deal while sailing on Geffen’s yacht. The previous California record was set in late 2019, when Lachlan Murdoch, the co-chairman of News Corp, paid $150 million for a mansion in Bel Air. That property had been owned by the late media mogul Jerry Perenchio and had once been listed at $350 million.
The Paradise Cove deal represents the second-highest residential sale in the U.S., behind only the billionaire Ken Griffin’s $238 million purchase of a New York penthouse in 2019.
[WSJ] — Trevor Bach