Gary Friedman of Restoration Hardware buys Malibu home for $27M

Hip hardware mogul Gary Friedman has bought a beachfront home in Malibu for $26.7 million.

The head of RH, formerly known as Restoration Hardware, and his wife, Bella Hunter, purchased the 5,600-square-foot house at 22040 Pacific Coast Highway on Carbon Beach, according to the Robb Report. The seller was the family of philanthropist Mel Rosenthal, who listed it last year for $40 million.

Rosenthal bought the third-acre lot with 80 feet of beach frontage in 1994 for $1 million.

He then built the five-bedroom, six-bathroom yellow stucco house in 1997, which has a gated motor court with garage parking for three cars.

Highlights of the two-story home include receding walls of glass with views of the Pacific Ocean from Point Dume to the Malibu Pier. It has Portuguese limestone floors, an atrium skylight, chef’s kitchen with granite countertops and a laundry room with a dog-washing station.

It also has an elevator and long gallery walls “suitable for a museum-quality art collection,” according to the listing.

Each bedroom comes with a bathroom, with one that now functions as an at-home gym. The upstairs master bedroom has a fireplace, custom closet, balcony and an office with a sink and fridge.

An oceanfront deck with tile floors spans the width of the house, and includes a built-in barbecue and hot tub. A front courtyard has palms and planters.

Brokers Christopher Cortazzo and Gregory Sharpe of Compass held the listing. The buyer was represented by Kurt Rappaport of the Westside Estate Agency.

Carbon Beach in East Malibu is now home to billionaires such as Larry Ellison, Michael Milken and film producer Arnon Milchan.

Friedman has been CEO of RH since 2001, with one break. His net worth is $1.8 billion, according to Forbes.

In addition to his new Malibu home, he owns a $37 million, 11,000-square-foot mansion in the mountains above Beverly Hills. Last year, the San Francisco native sold a half-built Los Angeles estate for $24 million.

— Dana Bartholomew