An expansive Malibu home is setting real estate records after Canadian billionaire Daryl Katz agreed to purchase the seven-bedroom home and all its contents for an astounding $120 million.
The sale is now the most expensive real estate transaction in Los Angeles County history, surpassing the next highest sale of $85 million for the purchase of David Geffen’s Malibu mansion in May of 2017.
Mr. Katz purchased the sprawling mansion from Kurt Rappaport, the co-founder and CEO of Westside Estate Agency, who acquired the property in 2007 for $6.8 million. He later worked with architectural designer Scott Michael, who completed the design and construction of the home in 2012.
In addition to a private screening room and expansive home gym, the 15,000-square-foot mansion is also home to California’s longest swimming pool at 168 feet long. The home includes seven bedrooms and 10 bathrooms, as well as a separate pavillion on the property housing two guest suites. Set on top of a bluff overlooking the Pacific ocean, the home’s property stretches across six acres of real estate.
The strikingly modern home’s exterior combines concrete and worn wood to achieve a beautiful blend of industrial modern and coastal charm. The interior makes use of rustic elements like planked ceilings and floors with the sleek lines of more modern architectural accents. A wall of floor-to-ceiling windows on one side of the home brings the breathtaking exterior views into the home’s interior. And a retractable wall of windows takes this element a step further by removing the barrier to the outdoors completely.
The sleek modern style of the home is extended to its landscape, which was also designed by Scott Michael. Concrete elements are featured throughout the landscape design, bringing an industrial touch to the manicured lawns surrounding the home.
The home was sold fully furnished and the $120 million price tag is said to also include priceless works of art from Damien Hirst, Sterling Ruby, and Ed Ruscha.
