Billionaire Marc Andreessen Pays $177M for Superlative Malibu Compound

Billionaire Marc Andreessen Pays $177M for Superlative Malibu Compound

Published: November 4, 2021 | By: American Luxury Staff

Investor Marc Andreessen bought heavily into the Malibu lifestyle this autumn when he dropped nearly $200 million on an estate overlooking Paradise Cove, according to The Wall Street Journal. The venture capitalist — who co-founded venerable Silicon Valley VC firm Andreessen Horowitz, a.k.a. a16z — closed on the property for $177 million. The transaction set a new record for a home sale in California; nationally, only Ken Griffin’s $238 million penthouse purchase appears to be higher. Both figures would have been eclipsed had The One in Bel Air succeeded in connecting with a buyer near its original $500 million ambition, or even subsequent $340 million price tag, but alas, that home is now facing a court-ordered sale.

Andreessen’s property, a turnkey compound, was sold by womenswear mogul Serge Azria — his brands include Joie — and his wife Florence. The Azrias spent a great deal of time and money revising the massive Malibu property to taste, and the final result shows an exceedingly warm, plank-clad modern-style main residence with striking high-concept interior architecture and walls and ceilings covered in hardwood, mainly white oak. A bit of playfully conceptual industrial can also be spotted in the shared living spaces.

The property’s thirteen structures include at least three residences, with the main house measuring in at 10,000 sq. ft. There are 6.62 acres of grounds within its boundaries, and of course a full suite of exterior amenities: a pool with a cabana, a large garden, beach access and panoramic views.

Andreessen is in good company; two doors down is billionaire Jan Koum’s two-house compound, which set him back some $187 million. The first of the two homes was purchased in 2019 for $100 million. Koum added the house next door earlier this year for $87 million.

Andreessen’s net worth is $1.6 billion, according to Forbes. His firm’s notable investments include Facebook, Airbnb, and Lyft.

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12975 November 4, 2021 Real Estate November 4, 2021