The deal is by far the most expensive residential conversion in Malibu this year, and it’s also the fourth most expensive California home sale in 2022, after only the $75 million Drake paid for his new home, and the $120 million infamous Holmby Hills and Bel Air deal.” The One” megamansion, which sold at auction for $126 million.
Built in 1944 but extensively remodeled in the 1990s and again in 2016, the Mediterranean style villa-style home was once the centerpiece of a 6-acre property owned by the tech entrepreneur Vital Walter de Loge, who died in 2014. The following year, his widow Linda sold the grand property for more than $50 million to her next-door neighbors, Cindy Crawford and her longtime husband Randy Gerber.
The 6-acre estate was then divided into two lots: a 2.8-acre one, mostly vacant, and the other 3.2-acre containing the main house. Crawford kept the smaller parcel to herself but sold the 3.2-acre parcel in 2018 for $45 million to Adam Weiss, a retired hedge fund manager from California’s Silicon Valley.
It was Weiss who sold the property to Kardashian, after remodeling the site and living there for a few years. After it was listed in March at a price of $99.5 million, the order was reduced to about $90 million before Kardashian called for a much lower offer.
Weiss, 55, is moving to the Hawaiian island of Maui, where he and wife Barrett Swatick last year paid $45 million for an oceanfront property not far from Jeff Bezos’ vacation home. Kardashian, 41, still mainly resides in her vast Hidden Hills home. She also has two “spare” homes in Hidden Hills, one of which recently appeared for sale, still owns a luxury Calabasas condo and free space in the prestigious Madison Club in La Quinta.
And for those curious, Kardashian’s new property is located about 14 miles offshore from Kanye West’s brutal $57 million spread, so it’s not exactly sugar-borrowing distance. Besides Crawford, new Malibu neighbors closest to Kardashian include retired television producer Marcy Carsi, Leo DiCaprio, Neil Diamond and Michael Isner.