Billionaire Byron Allen Buys Malibu Trophy for $100M

Published: October 13, 2022 | By: American Luxury Staff

Allen Media Group founder and CEO Byron Allen invested heavily in the Malibu lifestyle this season. Allen, owner of The Weather Channel and other media concerns, set his sights on the dramatic bluff-top compound listed earlier this year by billionaire Public Storage heiress Tamara Gustavson. Gustavson put the estate overlooking Paradise Cove up for sale with an ask of $127.5 million; a bit of wrangling and Allen called it his for $100 million, according to The Wall Street Journal.

The property dates to 2001. It’s situated on a promontory, atop a rather dramatic cliff. The beach can be accessed by a footpath that meanders romantically, in no hurry for arrival; the design is an indicator of the estate’s leisurely sense of space in terms of both acreage and interiors. There are 3.59 acres of grounds to wander, and nearly 11,000 sq. ft. of indoor area.

The main house is inspired by Tuscan rusticity, although its interiors err more on the contemporary side of things. Walls of optional glass are a constant in both public and private spaces, and at every conceivable opportunity the home opens generously to its setting. Second-floor terraces and a pergola-covered patio are positioned toward the panorama of languid grounds and the ocean.

A true turnkey compound, the trophy’s Mediterranean villa is joined by a pair of guest cottages, while a sunken tennis court is positioned at a judicious remove amid the gardens and plantings. A detached fitness studio and a garage with staff quarters above complete the overall layout of the estate.

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