A Malibu estate once owned by Cindy Crawford and Randy Gerber has sold after a $10 million price drop to $89.75 million.
Retired hedge-fund mogul Adam Weiss and his wife, actress Barret Swatek, are the sellers and have gone into contract for the 7,450-square-foot villa at 33218 Pacific Coast Highway, Global Mansion reported.
The final sale price couldn’t be determined. The buyer of the two-story beachside home was not disclosed.
The Malibu couple first listed the Mediterranean-style home in March at $99 million, more than twice the $45 million Weiss paid to Crawford in 2018. The owners revamped the 3-acre property with new interiors and landscaping, laying down a grassy meadow after ripping up concrete.
The four-bedroom, six-bath house, between El Pescador State Beach and the Malibu Riding and Tennis Club, has a gym, home theater and floor-to-ceiling views of the Pacific Ocean.
A primary bedroom suite has a fireplace, dual bathrooms, a walk-in closet and a sitting area. In addition to two other en-suite bedrooms, a fourth bedroom is equipped with a private entrance, kitchen and bathroom, according to marketing materials.
The home, built in 1944, is surrounded by outdoor decks, and includes a tennis court, pool, spa and cabana with a fireplace. A private path leads directly down to El Sol Beach.
Weiss and Swatek decided to sell it after buying a $45 million estate on Maui, with plans to make Hawaii a full-time home, according to the Journal.
Jade Mills of Coldwell Banker Realty holds the listing.
Weiss, 54, co-founded New York-based hedge fund Scout Capital Management before closing the firm in 2014. Swatek, 45, is an actress known for roles in “American Housewife” and “Yellowstone.”
Malibu has been the hottest beach in the state for pricey real estate deals.
A five-bedroom Malibu home once owned by Kenny Rogers has listed for $125 million.
In April, Silicon Valley venture capitalist Marc Andreessen picked up a third beachfront home in Malibu for $34 million, a month after paying $44.5 million for a home down the sand, and six months after paying $177 million for a surfside compound on Escondido Beach. His total outlay: $255.5 million.
— Dana Bartholomew
The post Cindy Crawford’s former Malibu mansion sells at discount appeared first on The Real Deal Los Angeles.
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