At the end of last year, Chris Martin shelled out $ 12.5 million for a lavish estate in Malibu’s Point Dume, arguably the West Coast neighborhood equivalent of the Hamptons. Formerly owned by controversial Hollywood producer Ryan Kavanaugh, the one-acre property includes a 5,300 square foot Nantucket-inspired mansion and independent guesthouse, both protected by large gates and top-notch security systems . Martin is said to have shared the property with his partner, actress Dakota Johnson.
But times are changing. Records reveal that Martin has now sold this landlocked house. And the English musician has reaped the rewards of a scorching real estate market – his off-market deal was for $ 14.4million, $ 1.9million more than Martin paid for the place ago. barely 14 months. The spendthrift buyer is Florence Azria, wife of fashion mogul Serge Azria. (In October, the Azria sold their custom-built Malibu estate in the nearby community of Paradise Cove for $ 177 million, the highest price ever paid for a house in California.)
While he still owns three other properties in the Point Dume area – a John Lautner designed house, a smaller cottage, and the Malibu Playhouse estate – Martin took that $ 14.4 million and quickly threw away $ 14 million. dollars on another Point Dume house, this one just a few blocks from where he just sold. Like the property which has just been sold, the newly acquired Martin estate is also landlocked and was not accessible to the public for sale.
Although it’s roughly the same price, the new home is significantly smaller than Martin’s old home, weighing around 3,500 square feet. But the land is also much more private and larger, spanning almost 1.5 acres. Last sold for $ 7.4 million in 2017 to real estate developer Steve Zimmerman, the place has also been handed over with a coveted ‘beach key’ that provides easy access to beautiful Little Dume Beach in Malibu. (Although technically it’s public, most of the access points to reach this particular beach are guarded by locked gates, making it ideal for famous sun worshipers.)
Take a look at Martin and Johnson’s former sweetheart, the place he just sold.