Paradise Cove mansion sells for $36.5 million

Paradise Cove home sells for $36.5 million

It’s been a busy winter in Malibu real estate. 

A 6.6-acre beachside mansion recently sold for $36.5 million, the Los Angeles Times reports. The home, located at Paradise Cove, was formerly owned by Max Palevsky, a computer mogul and philanthropist who died in 2010. 

The 11,313-square-foot Mediterranean-style villa has quite a spread: seven bedrooms, 8.5 bathrooms, a movie theater, spa, tennis court, swimming pool, two offices and a guest house. It first went on the market in 2010 with a $55 million asking price. 

The Paradise Cove sale comes on the heels of a record-breaking real estate transaction in Malibu last week. 

Just after New Year’s Day a Russian billionaire couple reportedly bought a $75 million Malibu mansion—the biggest home sale transaction on record for the town. The 9.5-acre home is located on the Encinal Bluffs in west Malibu.