Malibu Carbon Beachfront Estate Sold To Larry Ellison for $37 Million

by ritasimpson on September 29, 2012

in Carbon Beach

Ellison adds this Carbon Beach front Estate to his list of “Billionaire’s Beach” grand pads. In the Last decade Billionaire Larry Ellison has invested in both, residential and commercial property in Malibu, and his appetite for Malibu property seems insatiable! Will other billionaires follow?

The Malibu Times reported in 2004 that through his company, Wavebreak LLC, Ellison purchased the Windsail restaurant property for an undisclosed amount from Malibu developer Richard Weintraub. The previous year he purchased the Pierview Cafe land, next door to Windsail, through another company. The sushi restaurant Nobu opened this summer on the site of one, and it is not known yet what restaurant will occupy the other site.

Ellison’s other Malibu properties include:

  • Malibu Racquet Club
  • Casa Malibu Inn
  • David Foster’s former Serra Retreat 9-bedroom estate, purchased for $20 million in 2005
  • Five other Carbon Beach estates, purchased for $65 million in 2005,  including a cottage bought for $15 million

The  latest purchase of the 10,317 square foot mansion that Ellison purchased from Semel, which has 151 feet of beachfront property, went on the market for $50 million earlier this year. It is one of the priciest amongst celebrity homes for sale.  Ellison’s new estate also sits right on the beach, with a large yard fronting part of the sand.
Perhaps the improvements to Semel’s former home have helped increase its value from 2005, when it last sold for $8,305,454, according to the Los Angeles County Tax Assessor’s Office. Back then, the 7,876 square foot home had a mere 3 bedrooms and 4 bathrooms. Still the price paid seems excessive and definitely Makes or maintains Carbon as a billionaire’s beach!

Leave A Reply With Facebook

Malibu Home Search Malibu Home Values

Post by Rita Simpson

Rita has written 468 articles.

Leave A Reply With Facebook

Previous post:

Next post: