Malibu home sells for $177 million, setting new California record
Seller is fashion mogul Serge Azria of Joie
Kacie McDonnell’s ‘Mansion Global’ gives inside look at luxury homes
Host Kacie McDonnell previews ‘Mansion Global,’ originally a Fox Nation series, which will air Tuesdays at 9 PM as part of the new FBN primetime lineup launch.
Fashion mogul Serge Azria has sold an oceanfront estate in Malibu, Calif., for $177 million.
The deal sets a record in the state of California, and it is the second-highest priced home sold in the U.S., following billionaire Ken Griffin’s roughly $238 million purchase of a New York City penthouse in 2019.
Amazon founder Jeff Bezos previously held the record for highest-priced home purchase in California (AP) (AP Newsroom)
HOUSES IN THE HAMPTONS: A LOOK INTO LONG ISLAND'S LUXURY REAL ESTATE
Previously, the highest-priced deal in California was set by Amazon founder Jeff Bezos, who purchased the Warner Estate from media mogul David Geffen for $165 million last year, reported The Wall Street Journal.
Located in the Paradise Cove section of Malibu, the property spans about 7 acres on two lots, according to Mr. Azria. It was previously owned by a trust connected to Hollywood producer Jerry Weintraub, records show. Mr. Azria and his wife, Florence Azria, bought it for $41 million in 2013, records show.
BEVERLY HILLS, CA - NOVEMBER 03: Florence Azria (L) and fashion designer Serge Azria attend Friends Of The Israel Defense Forces Western Region Gala at The Beverly Hilton Hotel on November 3, 2016 in Beverly Hills, California. (Photo by Michael Kovac (Michael Kovac/WireImage / Getty Images)
Mr. Azria said it took him four years to completely renovate the property. "I’m proud someone wants to pay this kind of price for something I created," he said, declining to name the buyer.
The main house is roughly 10,000 square feet, he said, and the property has a cinema, a spa and two guesthouses.
Mr. Azria said he decided to sell because he is working on another project: a circa 1927 Spanish-style house in Bel-Air. "I’m the kind of person who likes to move on and do something different," he said.
NEW YORK, NY - FEBRUARY 12: Joie's owner and creative director Serge Azria poses with models at the Joie presentation during Mercedes-Benz Fashion Week Fall 2014 at Center 548 on February 12, 2014 in New York City. (Photo by Slaven Vlasic/Getty Image (Slaven Vlasic/Getty Images / Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Mr. Azria, the designer behind the brands Joie, Equipment and Current/Elliott, sold his company, Dutch LLC, in 2012. He is the brother of the late Max Azria, founder of fashion house BCBG Max Azria Group.
Kurt Rappaport, co-founder of Westside Estate Agency, represented both sides of the deal.