After paying $11 million for a beachside “crash pad” in Malibu owned by realtor Kurt Rappaport in 2018, Live Nation CEO Michael Rapino and his wife, “Star Trek: Enterprise” actress Jolene Blalock, have flipped that house in an off-market deal — it sold last week for $12.9 million to landscaping heiress Michelle Sperber — and have bought a more impressive property on the very same street. Records reveal they picked up the latest acquisition for $13.8 million, a discount off the original list of nearly $15 million.
Married since 2003, the longtime CEO of entertainment juggernaut Live Nation Entertainment (whose estimated worth is around $120 million) and Blalock also own a $14.8 million on a 2-acre compound in Brentwood. The latest residence: an impressive multilevel, Moroccan-inspired structure formerly owned by actor John Cusack, who sold the Malibu Road home for $10.3 million back in 2016 after six months on the market and several price cuts to former MySpace CEO Michael Jones and his wife, psychologist Jennifer Johnston-Jones. Before that, the property last changed hands in 1999 for $2.1 million.
Built in 1974, the couple’s latest Malibu acquisition rests along a deep, dry stretch of sand in a gated community overlooking Amarillo Beach, and features 4,000-plus square feet of living space punctuated by soaring ceilings, massive windows, painted beams and wrought-iron chandeliers throughout.
Accessible via a gated entry and private courtyard, the main level is highlighted by a towering living room outfitted with an attractive raised-hearth fireplace, soaring walls of windows and glass sliding doors that open to reveal an oceanfront deck spanning the entire length of the home.
Also standing out on the main level: a media room, as well as a large, open-concept kitchen equipped with a spacious marble-topped island with seating, high-end appliances, and an eat-in area with built-in banquette seating that leads to an oceanfront deck perfect for relaxing and entertaining.
Upstairs, the ocean-view master retreat features lovely arched French doors that open to a private deck, along with a sizable walk-in closet, study, and spa-like bath clad in brightly hued mosaic tile that sports dual vanities and a freestanding soaking tub. A duo of additional ensuite bedrooms occupying this level both offer stunning vistas as well, and there’s also a bonus room with a Murphy bed, and an office/den.
The lower level, meanwhile, includes a sauna, bathroom, and direct access to the sand, complete with a seating area, an outdoor shower and a beachfront swing ideal for whiling away the days amid the crashing waves.
Tony Mark and Russell Grether of Compass held the listing; Mark Andrew Smith of Coldwell Banker repped the buyers.