Hard Rock Café Co-Founder Malibu Property Sells for $110 Million

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Peter Morton

A real estate record is about to be shattered in Malibu and Los Angeles County as Hard Rock Café co-founder Peter Morton is set to part ways with his luxurious Carbon Beach estate for a whopping $110 million. The chic two-story main residence and guesthouse consists of almost 7,000 square feet. The teak-shuttered manor, designed by noted architect Richard Meier, reportedly required a full-time worker to oil the outside cladding, according to W magazine in 2006. The deal easily tops Malibu’s latest record breaker, the 2017 sale of David Geffen’s nearby Carbon Beach spread for $85 million. This previously under-the-radar transaction had Morton represented by brokers Rayni and Branden Williams of Williams & Williams Estates at Hilton and Hyland. The buyer, billionaire Michael S. Smith, was represented by Barry Peele of Sotheby’s International.