The stretch of sand frequently referred to as Billionaire’s Beach has a new listing to add to the books. Robert E. Smith, founder of Vista Equity Partners, has put his four bed, five bath home on the market for $24.5 million after purchasing it two years ago for $18.7 million. This was quite a discount since the asking price at the time is the same price Smith is asking now. In the two years since he purchased the home it has been on the market as a rental for between $30,000 and $50,000 per month, but now it is back on the market as a fully-fledged sale.
Malibu’s Carbon Beach previously held the record for the most expensive Los Angeles home sale—a $110 million transaction when Hard Rock Cafe founder Peter Morton sold his beach front abode to natural gas b...Read More