Eli Broad’s Malibu compound resurfaces at $75 million
In Malibu, an oceanfront home owned by billionaire philanthropist Eli Broad has come back up for sale at $75 million.
The modern-style residence, designed by Getty Center architect Richard Meier, hit the market in February for the same price, but was briefly taken off the market in late March amid the growing coronavirus pandemic.
Located on coveted Carbon Beach, the estate comprises two parcels with two structures and more than 100 feet of beach frontage.
Broad acquired the two properties — including one owned by Madonna’s former manager, Freddy DeMann — in the late 1990s for a total of $5.65 million, records show, and commissioned the New York-based Meier to design the compound.
Clad in white aluminum panels with frosted glass, the 5,374-square-foot home is a familiar cousin of sorts to Meier’s other projects, such as the Gardone Residence in Italy and the Rachofsky House in Dallas. Inside, interiors by Rose Tarlow feature a clean aesthetic with white walls, light wood floors and high ceilings. Towering walls of glass in the living room center on the Pacific.
Including the guest house, there are five bedrooms and seven bathrooms. Ocean-facing decking and balconies expand the living space outdoors.
The Broad residence reenters the market as the second-most expensive home for sale in Malibu; Metro Networks founder David Saperstein’s Paradise Cove estate listed at $115 million. The “New Castle,” a contemporary mansion near Serra Retreat, is also listed for $75 million.
Broad, 86, co-founded Kaufman & Broad Home Corp. and founded the L.A.-based retirement savings firm SunAmerica, which he sold in 1999 in a multibillion-dollar stock deal. A major influence on Los Angeles’ art scene, Broad helped create and establish L.A.’s Museum of Contemporary Art in 1979 and is a life trustee of the Los Angeles County Museum of Art. He also founded the Broad museum in downtown Los Angeles to house the collection of contemporary art that he and his wife, Edythe, have amassed.
Branden and Rayni Williams of Hilton & Hyland hold the listing.