Kim Kardashian purchased Cindy Crawford's former beachside home in Malibu, California, for $70.4 million, according to reports.
Kardashian, a TV personality, secured the property in an off-market deal that closed last week, making it the priciest residential transfer in Malibu this year, and 2022’s fourth priciest California home sale, Dirt reported.
The Mediterranean villa-style house was built in 1944 and remodeled in the 1990s and in 2016. It originally sat in the center of a 6-acre estate owned by biotech entrepreneur Walter de Logi. When he died in 2014, his wife sold the property to her neighbors, Cindy Crawford and husband Rande Gerber, for more than $50 million.
The estate was then divided into a 2.8-acre mostly vacant lot and a 3.2-acre spread containing the main house, which Crawford sold in 2018 for $45 million to investor Adam Weiss and his wife, Yellowstone actress Barret Swatek.
Weiss relandscaped the premises and put it on the market for $99.5 million, which was slashed to $90 million before it was sold at a significantly lower price to Kardashian.
Several weeks ago Kardashian listed her $5.3 million Hidden Hills property and a $3.5 million Calabasas condo for sale, according to Architectural Digest. Her new addition to her real estate portfolio, which is located in the exclusive Encinal Bluffs neighborhood, offers multiple wraparound decks, patios, and a private path to a secluded beach as well as tennis court, poolside cabana complete with an outdoor fireplace, and a fire pit area and spa.
The 7,450-square-foot Mediterranean-style villa features four bedrooms, and 5½ bathrooms. The primary suite is complete with two bathrooms and a walk-in closet, and there is a vaulted-ceiling gym.
It has been a busy time for Kardashian, who along with a former partner at Carlyle Group Inc., will launch a new private equity firm that predominantly focuses on investing in consumer and media businesses, the Wall Street Journal reported earlier this month. The new firm to be launched by Kardashian and Jay Sammons will be named SKKY Partners.
Zoe Papadakis ✉
Zoe Papadakis is a Newsmax writer based in South Africa with two decades of experience specializing in media and entertainment. She has been in the news industry as a reporter, writer and editor for newspapers, magazine and websites.
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