The sale of fashion mogul Serge Azria’s seven-acre property in Malibu, California, for $177 million, has set a new real estate record in the golden state. The buyer was Silicon Valley-based venture capitalist Marc Andreessen.
Blowing past a state record set in 2020 by Amazon founder Jeff Bezos’s purchase of the Warner Estate for $165 million, Azria’s home sale also now marks the second-priciest home ever sold in the U.S., the Wall Street Journal reported.
The current record for highest-priced deal in the country belongs to the $238 million purchase of a penthouse in New York City in 2019 by billionaire Ken Griffin.
At roughly seven acres spanning across two lots, the property is located on the coast between Paradise Cove and Escondido Beach in Malibu. The property’s main building is about 10,000 square feet in size, and the property also includes two guest houses, a cinema, a swimming pool, a box garden and a spa.
Azria and his wife, Florence Azria, purchased the home in 2013 for $41 million from late film producer Jerry Weintraub. Over the span of about four years, Azria completely overhauled the property and, reportedly, has been shopping it around off-market since late 2020 for about $218 million. (As such, there are few photos available of the property.)
Kurt Rappaport of Westside Estate Agency represented both sides of the deal. He did not immediately respond to a request for comment.
The timing of the sale came as Azria was looking to refocus his efforts on a new home project in Bel Air, he told The Journal, a roughly 1927-era Spanish-style home.
“I’m the kind of person who likes to move on and do something different,” he said.
Azria is the mastermind behind fashion brands Joie and Equipment. His late brother is Max Azria, founder of BCBG Max Azria Group.