California has one of the hottest housing markets in the world. So you can only imagine how much money it takes to smash the California real estate record. However, billionaire Marc Andreessen recently did it when he paid $177 million for a home. That’s right!
Breaking the California Real Estate Record
In one of the most historic real estate deals of all time, venture capitalist Marc Andreessen paid a whopping $177 for a sprawling estate in California. Of course, since the 50-year-old former software engineer is worth an incredible $2 billion, this was just a drop in the bucket! Still, it’s the most any one person has paid for a home in California, completely obliterating the previous record, set by former Amazon CEO Jeff Bezos last year.
While photos of the new place are pretty scarce, we do know a few things about Andreessen’s new home. According to real estate records, the billionaire purchased the mansion from Serge Azria, a fashion mogul who heads companies like Equipment and Joie. Over the past few years, Azria has been quietly shopping the home around; however, Kurt Rappaport of Westside Estate Agency, who handled the deal, declined to comment. Aerial shots show the property sits on a long plot of land in Malibu, just a few hours north of Lost Angeles, sitting right between Pacific Coast Highway and the ocean.
But the home has a lot more than just beach access…
The New Home of Marc Andreessen
As you might imagine, Andreessen’s new property makes the most of the space, explaining why it cost him nearly $200 million. In addition to the home, the property has multiple guesthouses, a swimming pool, a garden, and even guard houses to make sure everyone feels safe. Plus, it has some of the best ocean views of any home in Malibu, as well as a winding path down to the beach. Meanwhile, Andreessen has some famous new neighbors, including the famed compound of William Bell and Lee Phillip Bell, the late husband and wife celebrities who created soap operas like The Bold and the Beautiful and The Young and the Restless. Basketball legend Kevin Garnett is currently working on a house across the street.
Despite the pandemic, the massive real estate deal marks a high point of an already record-setting real estate year in Southern California. Sale prices of homes have reached an all-time high – but not for the ultra-luxury market! With this being the only sale of over $100 million in the region this year, it’s a well-needed bump to the industry.
In addition to setting a new California home record, Andreessen’s new property is also the second-most expensive home sale in the history of the United States – however, the gap is large! The top spot goes to Ken Griffin’s $238-million penthouse in New York City, which overlooks Central Park, one of the most fantastic views in the world. Still, we’re sure that Andreessen feels pretty happy with his purchase and new record.