Malibu may be known for staggering real estate sales—and this Pacific Coast Highway property is certainly no exception!
The Wall Street Journal is reporting that Byron Allen, chairman of the largest privately held media company in the U.S., has closed a $100 million acquisition on a bluff-top trophy estate in the ’bu. The sale marks the most ever paid for a U.S. home by an African-American buyer.
On the market since May, when it was listed for $127.5 million, the 3.5 acre property includes a private pathway to more than 208 feet of sandy beach frontage. The two-story main house features a formal foyer, living room with fireplace, dining room, screening room, and large gourmet kitchen with professional appliances, huge island, breakfast room, and walls of glass that open to an outdoor dining terrace.
The upper level features four bedroom suites. Staff quarters with a separate kitchen are located off the three-car garage, while above the garage there are two guest bedroom suites.
A detached guesthouse is located adjacent to the tennis court and features a living room, bedroom, three bathrooms, and a large upper level with vaulted ceilings currently used as a gym, ballet and yoga studio.
Jade Mills held the listing while Terence Hill of BT Equities, an in-house agent with Allen’s family office, repped the buyer.