By James McClain | Dust
Pop quiz: when is a $177 million home simply not sufficient? When it’s proper down the highway from a $44.5 million home, in fact! That’s how a lot billionaire Marc Andreessen and his longtime spouse Laura Arrillaga have forked out to purchase their second Malibu house, which they’ll presumably use as workplace house or for visitor lodging. The Wall Road Journal first reported the couple’s second large splurge.
Versus his $177 million property — which sits on a bluff excessive above Malibu’s Paradise Cove seashore and nonetheless ranks because the priciest house ever offered in California — Andreessen’s $44.5 million accent house lies instantly at sea stage, proper on sandy Escondido Seashore, maybe considered one of Malibu’s least-crowded gems. The 0.59-acre property contains 130 ft of ocean frontage throughout two separate (however contiguous) parcels with two completely different addresses. One of many parcels accommodates a modern modern mansion with greater than 7,000-square-feet of dwelling house throughout three ranges; the opposite parcel has parking for 14+ automobiles, a guesthouse and per the itemizing “room for … an oceanfront swimming pool.”
The property was offered to Andreessen by longtime Malibu residents Richard and Liane Weintraub, who acquired the splendid place in 2018 for $19.5 million. Inbuilt 1991 by leisure business veteran Ed Fishman, the boxy fashionable home at the moment sported dated interiors and was painted an odd shade of salmon pink. American architect Chad Oppenheim and acclaimed Malibu native Douglas W. Burdge had been subsequently employed by the Weintraubs to transform the place right into a modern modern showpiece; right now, the newly revitalized mansion sports activities casually cool and stylish interiors awash in muted impartial decor, with Venetian plaster, Navona travertine flooring and partitions of glass respiration within the unstoppable ocean views.
Final summer season, the Weintraubs put the property up on the market, asking $55 million. By the point Andreessen got here calling, the ask had cratered to $51.5 million, and the patrons negotiated an extra $7 million low cost. Nonetheless, information point out that is nonetheless the priciest Malibu actual property deal inked to date in 2022. (That $177 million switch recorded again in October.) Chris Cortazzo of Compass dealt with each side of the deal.
Although he gained early web fame for co-founding Netscape and the tech-focused enterprise capital agency Andreessen Horowitz — by way of which he’s been a key early investor in Fb, Twitter, Instagram, GitHub and lots of extra — Andreessen, 50, has extra not too long ago established himself as a cryptocurrency tycoon, and the chief of a giant crypto enterprise fund. His web price is $1.7 billion, per Forbes, although we’re guessing that estimation falls on the conservative facet. Andreessen’s father-in-law, who died in January, was lengthy considered one of Silicon Valley’s largest landowners and was reportedly price $2.5 billion himself.
For now, Andreessen and Arrillaga’s fundamental residence stays a Tuscan-style mansion within the Bay Space city of Atherton, Calif. The couple acquired that property means again in 2007, paying $16.6 million. Final 12 months, they reportedly dropped $36 million on a vacant property simply exterior Las Vegas, Nevada.