The Most Expensive Cove in the World?
The news came out this week that billionaire buyers Jay-Z and Beyonce have purchased the most expensive home ever sold in California, a $200 million mansion designed by what many agree is the world's greatest architect, Tadao Ando, in Malibu.
The Sellers were William Bell and Maria Arena Bell, of soap opera fame. Avid art collectors, the Bells purchased the property for $14.5 million in 2003 before choosing Ando to create the concrete, glass, and steel structure that sits on the property today.
The house traded hands off market after being quietly marketed as a pocket listing for $295 million. The Paradise Cove area of Malibu has emerged as one of the priciest enclaves in the country, thanks to a flurry of recent – and very expensive – sales. In fact, the second most expensive sale in the Golden State was billionaire venture capitalist Marc Andreesen’s $177 million Paradise Cove purchase, directly next door to the Carters’ new house.
Other impressive Cove sales include WhatsApp co-founder Jan Koum’s $87 million buy and producer-beverage- heir Edward Hamm’s $91 purchase. Public Storage heiress Tamara Gustavan sold her home in the neighborhood for $100 million, and Laurene Powell Jobs owns three adjacent properties in the neighborhood which she acquired for $80 million.
While the Bell-Carter house is the most expensive sale in California, it is not the most expensive sale in the United States. In 2019, hedge fund titan Ken Griffin shelled out $238 million to purchase a four-level home at 220 Central Park South in New York City.
And if you’re looking to borrow sugar from Beyonce and Jay-Z, here are a few options to get into the neighborhood. Warning, as can be expected, none are on the cheap. If Paradise Cove real estate ownership is out of your price range, you can always rent your slice of Paradise Cove for the day below.
Trust me, it’s worth it.
27930 Pacific Coast Highway
With breathtaking ocean views and an enviable private sandy beach, this remarkable architectural estate, sited on approximately 2.5 acres, is an idyllic private oasis offering resort-style living, luxurious amenities, and a majestic setting for lavish indoor-outdoor entertaining. A gated, long driveway meanders past mature trees and spectacular grounds to this dramatically designed 12-bedroom,14-bath, approximately 12,000 square-foot architectural home. Listed by Lisa Optican of Douglas Elliman and Chris Cortazzo of Compass.
28026 Sea Lane Drive
This contemporary Paradise Cove residence has approximately 90 feet of beach frontage, gated privacy, a spacious four-bedroom home, a guest bungalow on the beach, and an ever-changing panorama of ocean, islands, and sparkling Queen's Necklace lights. I picked this photo so you could see Paradise Cove in all its glory. Listed by Chris Cortazzo of Compass.
28036 Sea Lane Drive
I first fell in love with Sea Lane Drive many years ago, when a designer friend introduced me to the exclusive, hidden gated street adjacent to Paradise Cove. Situated on nearly an acre of lush grounds, this contemporary house was originally designed by iconic Malibu architect Matt Kivlin with hardscapes by designer Jay Griffith. Listed by Chad Rogers and David Kramer of Hilton & Hyland and Lisa Dugum of Crown Road.
97 Paradise Cove Road
Ah, finally a more affordable option to make your way into the ‘hood, you think to yourself? This is the right now the only property listed in what The Wall Street Journal recently called, “The World’s Most Expensive Trailer Park.” The Paradise Cove Mobile Home Park is home to this Marmol Radziner-designed house. Situated at the end of a quiet cul-de-sac, this is one of the most private lots in all of the Cove with no immediate neighbors. Enjoy private access to sandy coves and excellent surf from Paradise Cove Pier to Little Dume. Rustic barn wood adorns the exterior and a large push gate opens to a sanctuary surrounded by mature trees, drought-resistant succulents, and meticulously designed spaces. Inside, the home is appointed with James Perse furniture which is included in the sale. Listed by Justin Cumbee of Compass.