Summer may be over, but Kim Kardashian is already setting the stage for a chic vacation by the sea next year – and many more summers to come, it seems. Property records show everyone’s favorite reality star, turned billionaire shapewear mogul and aspiring lawyer, paid $70.4 million for a beachfront estate on the Encinal Cliffs, one of Malibu’s most coveted neighborhood pockets. The off-market deal was completed last week.
The deal is by far the most expensive residential transfer in Malibu this year, and the biggest since February 2021, when “Real Housewife” Diana Jenkins sold her Paradise Cove resort for $87 million. It’s also the fourth most expensive California home sale of 2022, trailing only the $75 million Drake paid for his new home, a $120 million deal in Holmby Hills, and the infamous megamansion.” The One” by Bel Air, which sold at auction for $126 million.
Built in 1944 but extensively renovated in the 1990s and again in 2016, the Mediterranean villa-style home was once the centerpiece of a 6-acre estate long owned by biotech entrepreneur Walter de Logi, who died in 2014. The following year, his widow Lynda sold the large property for over $50 million to her next-door neighbors, Cindy Crawford and her longtime husband Rande Gerber.
The 6-acre estate was then divided into two plots: one was a 2.8-acre, mostly vacant lot and the other a 3.2-acre expanse containing the main house. Crawford kept the smaller plot for herself, but sold the 3.2-acre one in 2018 for $45 million to Adam Weiss, a retired hedge fund manager from Silicon Valley in California.
It was Weiss who sold the property to Kardashian, after remodeling the place and living there for a few years. After listing it in March with a price of $99.5 million, the request was reduced to around $90 million before Kardashian called with a significantly lower offer.
Weiss, 55, is moving to the Hawaiian island of Maui, where last year he and his wife Barret Swatek paid $45million for a beachfront estate not far from the vacation home by Jeff Bezos. Kardashian, 41, continues to primarily reside at her sprawling estate in Hidden Hills. She also owns two “spare” homes in Hidden Hills, one of which recently came up for sale, and still owns a luxury condo in Calabasas and a vacant lot in La Quinta’s prestigious Madison Club.
And for the curious, Kardashian’s new estate is about 14 miles off the coast of Kanye West’s $57 million brutalist spread, so not exactly sugar-borrowing distance. Besides Crawford, some of Kardashian’s new closest neighbors in Malibu include retired TV super-producer Marcy Carsey, Leo DiCaprio, Neil Diamond and Michael Eisner.