Malibu is no stranger to noteworthy sales, both with record-breaking numbers and the world’s most renowned individuals. Known for its stunning coastline and ultra-exclusive properties, it continues to be a magnet for high-net-worth buyers looking to combine luxury with nature. In 2024, the Malibu market has reached new heights with some of the most expensive and notable home sales in California history. From impressive beachfront estates to expansive landside compounds, let’s dive into the sales that have captured everyone’s attention this summer.

$210M Sale on Encinal Bluffs – Oakley Founder James Jannard

Topping the list is Oakley founder James Jannard who sold his bluff-top compound for a staggering $210,000,000. This record-breaking sale not only set a new benchmark as the priciest home sale in California history but also surpasses Jay-Z and Beyoncé’s impressive $200 million purchase of a Paradise Cove estate just last year. The sale of this property was reported in June 2024.

Perched on a bluff with sweeping views of the Pacific, this sprawling 9.5-acre estate boasts a rare 300 feet of coveted beach frontage. The main home is an impressive 15,000+ square feet and features 8 luxurious bedrooms and 14 bathrooms. The grounds are equally stunning, including a pool overlooking the ocean, a massive front lawn, a serene courtyard, and multiple guest houses. This property exemplifies the pinnacle of coastal living, combining vast space and extraordinary amenities in one package.

$94M Sale in Paradise Cove – Laurene Powell Jobs

The second-largest sale of the year was a remarkable purchase by Laurene Powell Jobs, the billionaire widow of Steve Jobs. Powell Jobs picked up an exquisite mansion in Paradise Cove off-market, adding another exclusive piece of real estate to her impressive portfolio. This purchase further proves Paradise Cove’s reputation as one of Malibu’s most exclusive and sought-after neighborhoods, attracting high-net-worth individuals and showcasing the continued desirability of this idyllic enclave. This sale was reported in June 2024.

This sale occurred off-market and details regarding the 4-acre beachfront estate are scarce. Multiple strictures dot the lush grounds, and the prized location features 162 feet of beach frontage along the highly coveted sandy beach at Paradise Cove. In 2015, Jobs made headlines by purchasing 3 parcels for $44 million which happens to be adjacent to her new estate.

$61M Sale at The Case – Scott Gillen

In 2017, Scott Gillen purchased one of Malibu’s undeveloped trophy properties. The 24-acre bluff situated above Malibu Road was an incredible blank canvas for which he paid $50 million. Now, in July 2024, the first of four massive luxury homes he has developed, also known as “The Case”, has sold for $61 million. The home, called “The Edge,” is a modern work of art spanning over 10,500 square feet and offering truly endless views. The sale was reported in July 2024.

Individually situated on 2.6 acres behind a guard gated entry, this brand new architectural estate was sold completely turn-key including furnishings. Massive 13-foot ceilings and walls of glass lead out to the home’s central feature, a stunning 75 foot infinity edge pool with a 10,000 square foot wraparound Ipe sun deck. Inside, an incredibly luxurious primary suite offers the ultimate in comfort, and additional features include an 800+ wine bottle room and state-of-the-art home theater. Selling at $5,795/sq. ft., it is safe to say Scott Gillen did an incredible job. The three additional homes located in The Case are still seeking their owners.

$21M Sale on Malibu Road – Kanye West

Kanye West is no stranger to the press, and it was widely publicized when he purchased his Malibu Road house for an astonishing $57 million in September of 2021. This was a record-breaking sale for a single lot on Malibu Road, though the house, exquisitely designed by Tadao Ando, certainly deserved to set the standard. At the time, the asking price was $75 million. Now, just 3 years later, that home has sold at $21 million. The sale was reported in September 2024.

During this time, Kanye West’s life took many personal turns and the results can almost be seen in the home. Though purchased in near flawless condition, he had grand plans to remodel and update the home to his taste. The home was stripped of electrical wiring, plumbing, and glass windows leaving it to rot and rust in the beachfront elements. More bomb shelter than home, it was finally sold at $43 million below its previous purchase price. With Tadao Ando’s incredible vision and pedigree, and excellent location on Malibu Road, perhaps this home will be restored to it’s former glory.

$29.5M Sale of the Wave House – Joshua Kushner & Karlie Kloss

Few Malibu homes are more recognizable than Harry Gesner’s “Wave House.” This architectural masterpiece is widely considered one of the most iconic properties to grace the California Coast and after over 1 year listed for sale, the property has found new owners in Joshua Kushner & Karlie Kloss. This sale was reported in August 2024.

Designed by the legendary architect and avid surfer, Harry Gesner, the property was designed to emulate a cresting wave. Dramatically rising out over the Pacific, the artistic lines are breathtaking and the home exudes a mid-century aesthetic. Endless ocean, coastline, and island views abound from within, and three huge wraparound decks. Situated in Western Malibu on a secluded cove near El Sol Beach, the property offers incredibly rare privacy and serenity with an iconic design.

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