Location: Pacific Coast Highway, Malibu, CA

Square Footage: 20,000

Bedrooms & Bathrooms: 8 bedrooms & 14 bathrooms

Sales Price: $75,000,000

In what is a record deal, billionaire Harold Marks has sold his Malibu, CA oceanfront estate for a whopping $75,000,000. This makes it the highest price ever paid for a residential property in Malibu, closely passing the $68 million sale of Nancy Daly Riordon’s Carbon Beach mansion in 2008. Harold,  who is the money manager behind Oaktree Capital Management (a Los Angeles based publicly-traded alternative asset management firm), was quietly shopping around the grand estate off the market for an estimated $125 million. Marks purchased the property for $31 million back in 2002 from the estate of late Herbalife founder Mark Hughes. He then spent 7 years completely renovating it. It is located off of Pacific Coast Highway and is situated on 9.5 acres with more than 300 feet of ocean frontage. The 20,000 square foot Mediterranean villa style mansion was designed by Ferguson & Shamamian Architects and features 8 bedrooms and 14 bathrooms. The estate also features two gated entrances, two guesthouses, a gym building, tennis court and a swimming pool.

Tidbit – Harold isn’t a stranger to high-priced real estate. n May, he spent $52.5 million a duplex co-op at 740 Park Ave., and two months later he listed his apartment at the Ritz Carlton for $50 million.

*Thanks to HOTR reader Randy for the tip!

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HOMES OF THE RICH POPULAR TOPICS
  • Grrrowler

    I quite like the house inside and out, but $75 million is a ridiculous sum. For a beach house I would prefer something less stiff and formal, but because it’s on a bluff instead of on the beach itself, it works.




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  • Ewan

    Great post Kenny! I know many people have been waiting for a closer look at this grand estate.

    A bit over priced. But oh well, it is Howard Marks for you.




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  • GTC

    Very dissapointed. If this is how billionaires live then I must change my view of how a billionaire house must be like…Plus for this Very Modest looking property – $75M is an exagerate lot of money! But – I guess is Malibu and there everything is crazy and exagerate.




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    • jason

      Are you Russian or Middle Eastern? This is a very tasteful & elegant home. It’s a Malibu beach house- it should be casual.




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      • James

        What a well formulated argument Jason. Are you racist or just ignorant?




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  • jason

    This is a great house. Super expensive, but it`s California. I like the proportions, but have some issue with the super pared down details. It`s almost post-modern. The interior spacesare great, but if anyone has seen the floorplans in the F &S monograph- it has some quirks. Probably from having to re-work an existing plan.




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  • Sam

    Theres something about the facade thats really appealing but theres not much attention to detail. I expected this kind of laid back informal interior, it works well but I did not expect the eight figure price tag, genuinely would guess this at $5’000’000 tops especially when half the grounds still look under construction




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  • Daniel

    Yikes. It’s nice but not $75 million nice. Honestly I’d rather have 2 or 3 VERY nice homes across the country than this one estate.




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  • mak

    I love the intersection of the formal and the casual in this place; the buttoned up, and the turned down. I could see living here. Beautiful beautiful home.




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  • Gene

    I bet Larry Ellison will scoop it up … Just for the hell of it …




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  • Venom

    The house is not that great in my opinion, nice but not great. Something my parents or grandparents might like but not myself. The property itself though is fantastic. I still think the price was way too much.

    My favorite Malibu home is easily Courteney Cox’s house. Gorgeous. If I had that kind of money I would go to her front door and make her an offer.




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  • Chicago

    $75 million for stucco and precast concrete?




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  • Chris

    Its a gorgeous house, not my cup of tea, but quite nice. Not worth $75 million though.




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  • c

    What you all seem to be missing is that while it is a big “nice” house— the value here is in having pretty much the largest sole parcel in Malibu. The house is a $10-15m house ( being generous )… the rest of the value is the like 10 acres it sits on.




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  • Grrrowler

    The Real Estalker is reporting that the buyer is James Jannard, founder of Oakley. There’s also mention of HOTR in the article. 🙂




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  • andi

    Fantastic house. I see no problem with the price. They aren’t making beach front land anymore as far as I know so a couple acres on the sand in malibu is not going to come cheap people. Love the house, the grounds, the pool, the tennis court. LOVE IT. Seems like a deal to me.




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  • Mai

    My dream house.




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