A giant compound in Malibu recently sold for $177 million, setting a new record for the highest-priced home sale ever in California, and the second-highest home price ever paid in the U.S. The off-market purchase, first reported by the Wall Street Journal, was made by Silicon Valley-based venture capitalist Marc Andreessen, 50, and his wife Laura Arrillaga.
The seven-acre bluff-top property directly above Paradise Cove features sweeping ocean and coastal views. Real estate blog Dirt reported that the compound includes 13 structures scattered around the premises—a 10,000-square-foot main house, two guesthouses, a car collector’s dream garage, detached screening room, poolside cabana and caretaker’s quarters.
The buildings’ interiors are described as warm contemporary while the exteriors are farmhouse style.
The sellers, apparel mogul Serge Azria and his longtime wife Florence, bought the property in 2013 for $41 million, and then spent tens of millions of additional dollars to revamp every part of the estate.
Purchaser Andreesen is primarily known as the co-founder of Netscape and the tech-focused venture capital firm Andreessen Horowitz. He recently established a new crypto currency focused venture fund.
His net worth is $1.6 billion, according to Forbes. Five of his fellow property owners on the Paradise Cove bluff-top are also billionaires or close to being billionaires.
Andreessen’s long-time main residence is a Tuscan-style mansion in Atherton, Calif.Â
Azria, in the meantime, has moved on to a $16.4 million estate in Bel Air.