Car loan billionaire Don Hankey took a drive to Malibu this spring and stopped long enough to toss down $20.75 million for this five-bedroom, nine-bath modern beach house.
The place is something of a condensed compound. The 9,715 sq. ft. of interior space includes a main residence and, per the listing, ‘3 guest apartments’ and ‘3 storefront offices’; on the street side of the lot, three garages and a large motor court allow abundant parking for the gated and possibly mixed-use, .49-acre property.
The main house boasts a wide-open living area. The kitchen features a large L-shaped island, and pocketing glass opens the room to the outdoor living area and beach. An elevator accesses the owner’s suite, which boasts a private foyer, a grand corner fireplace in a massive limestone accent wall, a private sitting area and creative workspace, a breakfast room, a balcony, and a pair of baths.
The ocean side of the home includes 100 feet of frontage on Carbon Beach, and two swimming pools, each with a pool house, are also part and parcel of the property. The pool decks are enormous for a beach house, even one in this part of Malibu, and encompass a covered patio and a sunken fire pit.
Hankey is known as the king of subprime car loans. His net worth is north of $3 billion.