Fashion tycoon Serge Azria sold his massive Malibu compound for a record-breaking $177 million eight years after he purchased the seven-acre property for just $41 million. Azria’s sale of his oceanfront estate, located in the Paradise Cove section of Malibu, is the most expensive property ever sold in California and the second-dearest in US history, behind the $238 million New York penthouse purchase by billionaire Ken Griffin in 2019, the Wall Street Journal reported.
Pictured: The exterior of the Malibu home seen in a 2019 post from Azria’s wife, Florence Azria.
The sale breaks the $165 million state record set by Warner Estate from media mogul David Geffen when he sold his Beverly Hills to Amazon founder Jeff Bezos. Pictured: The estate in 2013.
The massive property spans seven acres on two lots, while the main house is roughly 10,000 square feet and features a cinema, a spa and two guesthouses, Azria told the WSJ. Pictured: A 2013 photo shows the Malibu property before it had been sold to fashion tycoon Serge Azria.
A 2013 image shows the view of the pool that offers a beautiful view of the Malibu waters. It has since been substantially renovated.
Serge Azria’s wife takes a pictures in a closet located in their Malibu home.
Azria is the CEO and creative director for brands including Equipment and Joie, and he has completed extensive renovations on the estate in the eight years since he has bought it. ‘I’m proud someone wants to pay this kind of price for something I created,’ he told WSJ. As to why he sold the home after working so hard on it, the fashion tycoon said he’s turned his attention to renovating a 1927 Spanish-style house in Bel-Air. ‘I’m the kind of person who likes to move on and do something different,’ he told WSJ.
An overhead view of the massive Malibu home that Azria recently sold for $177 million.
Azria’s home, located in the Paradise Cove section of Malibu, broke a sale record in California when it was recently sold. Pictured: The estate in 2013.
The home is the vision of architectural designer Scott Mitchell. Pictured: A view of the pool on the property in 2013, before Azria purchased and remodeled the home.
Azria’s sale of his oceanfront estate, located in the Paradise Cove section of Malibu, broke a sale record in California. Pictured: The home’s idyllic garden in 2013, before the home was renovated.
Source: | This article originally belongs to Dailymail.co.uk
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