You might want to change the name. Mar de Amor, or Sea of Love, sounds just a little cheesy for a stunning, ultra-modern Malibu oceanfront estate with such an eye-watering sticker price. Broadcasting billionaire David Saperstein—who founded Metro Networks, which provided traffic reports to radio stations—built this 10,600-square-foot compound in the late 1990s.
Sitting on a 2.6-acre lot in Malibu’s celebrity-rich Paradise Cove enclave (Walmart heiress Ann Walton Kroenke lives next door), the home comes with private access to the exclusive Paradise Cove beach, a jaw-dropping infinity pool and spectacular views of the crashing Pacific. Other A-list neighbors you’re likely to bump into while strolling the sand or paddleboarding in the cove: actor Leonardo DiCaprio, Friends star Courteney Cox, tennis ace John McEnroe and former Paramount Pictures chief Frank Mancuso Sr.
If the estate sells for close to its $115 million asking, it would become the fourth most expensive home ever sold in California, and the most expensive in the increasingly off-the-charts Malibu area. Believe it or not, the price is not that unrealistic; last year WhatsApp co-founder Jan Koum reportedly paid $100 million for a 14,000-square-foot spread just down the beach. Back in 2018, natural gas billionaire Michael Smith dropped $110 million for an estate in nearby Carbon Beach.
Of course, Saperstein, who sold Metro Networks in 1978 for a reported $1.25 billion, is no stranger to the mega-priced luxury property market. He and his ex-wife Susan built the spectacular, Palace of Versailles-inspired Beverly Hills mega-mansion called Fleur de Lys. After their split in 2014, the ex-Mrs. Saperstein sold it for $102 million. Then in 2018, Saperstein himself off-loaded his 123-acre equestrian ranch in California’s Simi Valley, known as Hummingbird Nest Ranch, for $33 million.
Article source: Robb Report