What a way to ring in 2013: A beachfront Malibu home recently sold for approximately $75 million — believed to be the most expensive real estate buy on record in Malilbu. A couple described as “Russian billionaires” made the purchase, according to several reports.
Howard Marks, the billionaire CEO of the investment firm Oaktree Capital Management, had the 9.5-acre property on the market for $125 million originally. The main house is at least 15,000 square feet with eight bedrooms and 14 bathrooms. Additionally, there are two guesthouses, a gym, tennis courts, a pool and 300 feet of frontage on an undisclosed Malibu beach.
Marks had owned the property since 2002 when he purchased it for $31 million from the estate of Herbalife founder Mark Hughes.
The $75-million price tag is one of the highest on record and second-most expensive Southern California home sale, trailing only the 2011 sale of an $85-million Beverly Hills mansion.