Just five months after it first hit the market with a nearly $14 million ask, a luxe blufftop retreat in Malibu has sold for a discounted yet still pricey $13.3 million.
Records show the buyer is Silicon Valley-based billionaire real estate developer Jay Paul, who adds to a trophy property lineup consisting of a $45 million Bel Air mansion, plus a main residence in San Francisco’s affluent Pacific Heights neighborhood that — following a years-long renovation — is reportedly the most valuable house in the entire city.
Paul bought the 4.3-acre spread from the estate of SC Johnson heiress Karen (Henni) Keland — a fifth-generation member of the family behind the cleaning products giant — who died back in August 2021. Keland owned the mansion for a little more than four years, having purchased the 1980s contemporary from interior designer Michael Lee back in May 2017 for a speck over $10 million.
Nestled on more than 4 acres, in a desirable gated enclave in the foothills above La Costa Beach, the white stucco and black-accented structure is mostly hidden away from the street behind gates. Out front is a motorcourt and an ample-sized central courtyard, and picturesque coastline views stretching from Point Dume to Palos Verdes are available from almost every vantage point.
Once inside, the luxe mansion features four bedrooms and five baths in approximately 4,000 square feet of Michael Lee-designed living space punctuated throughout with rich hardwood floors, soaring ceilings, skylights and art-worthy light fixtures. There’s also a one-bedroom, one-bath guesthouse resting atop the detached two-car garage.
Highlights include a combo living/dining room sporting French doors spilling out to a wraparound ocean-view balcony, along with a gourmet kitchen outfitted with an Ilve stove and Sub-Zero appliances, an eat-in island, custom cabinetry and open shelves. Elsewhere is a master suite boasting a private balcony and an oversized bath.
Outdoors, the professionally landscaped grounds are dotted with olive and palm trees, and host a pool and spa flanked by a sundeck, and numerous spots ideal for al fresco dining and lounging. An added bonus: The property transfers with deeded rights to the La Costa Beach and Tennis Club.