Back in March 2015, retired supermodel Cindy Crawford and her husband Rande Gerber paid $50.5 million for a sprawling oceanfront estate right next door to their main residence. The seller of the Encinal Bluffs estate was a woman named Lynda de Logi, widow of biotech billionaire Walter de Logi. The de Logi family had owned the compound since 1997, when they picked it up for about $9.7 million.
The Crawford-Gerbers wasted no time in splitting their new 6-acre property into two parts. About 2.7 acres of the estate were integrated into their current home; the other 3.18 acres of land were set back out for sale in 2016 with a $60 million asking price. The ask was eventually trimmed to $50 million, and finally — in June 2018 — the place sold for $45 million.
The new owner is Silicon Valley-based Adam Weiss, a hedge fund tycoon who co-founded New York-based Scout Capital Management nearly 20 years ago. After 15 years in business, the multibillion dollar firm permanently closed its doors back in 2014. Weiss later founded a new hedge fund, Stillwater Investment Management, which performed well but has also since been shuttered.
Per the listing, the Malibu house was originally built in 1944 and renovated by Crawford and Gerber shortly after their purchase. The red-tile-roof Mediterranean sits far back on the heavily wooded lot, directly overlooking the sea and secluded from busy Pacific Coast Highway.
There are 3 beds and 5.5 baths in the main house. Two of the bedroom suites are located on the ground floor, while the sumptuous master sits on the upper level and sports ocean views, his-and-hers bathrooms, his-and-hers closets, and a sitting area. The kitchen has top-of-the-line stainless appliances and French door access to the outside decks.
Off the side patio is a pool w/ inset spa, and towards the front of the lot (near PCH) is a proper north/south tennis court. Naturally, the entire front yard is walled, gated, and camera-watched for security. Off the backyard, meandering pathways lead down the bluff to the rocky shoreline and dazzling whitewater views.