Former Disney CEO Michael Eisner Seeks $225 Million for Massive Malibu Compound
Former Disney Chairman and CEO Michael Eisner is asking $225 million for his clifftop resort in Malibu, California.
If the deal closes for that amount, the home will be the most expensive ever sold in California and one of the most expensive in the world.
The Robert AM Stern-designed estate comprises nine structures on approximately 5 acres, connected by gardens and courtyards, according to listing agent Kurt Rappaport of Westside Estate Agency. On a bluff above a small beach known as Watkins Cove, the property has a beachfront cabana accessible via a cliffside lift, Mr Rappaport said.
The property comprises nine separate structures, including a main house and several guest houses.
The estate was designed by architect Robert AM Stern.
A beachfront cabana sits directly on the beach.
A movie theater is accessible through a tunnel.
The property extends over approximately 5 hectares.
The roughly 25,000-square-foot Mediterranean-style estate, which features ancient stonework and terra-cotta roofs, is reminiscent of old estates on France’s Cote d’Azur, Mr. Rappaport said. Its facilities include a gym, several guest houses, an office and a swimming pool that overlooks the Pacific Ocean. An underground tunnel from the pool area leads to a large cinema room.
The property has a total of 16 bedrooms and 28 bathrooms distributed in the main house and the guest houses, as well as a two-bedroom caretaker’s house.
Mr. Eisner and his wife, Jane Eisner, originally purchased land on the cliffs in the mid-1990s and have added adjoining plots since then, Mr. Rappaport said. The estate comprises at least five separate plots, according to records. The Eisners commissioned Mr. Stern, an architect known for designing iconic New York buildings like 15 Central Park West, to design the property. The complex was gradually built over decades and finally completed in 2020, Mr Rappaport said.
Mr Rappaport said Mr Eisner was selling because he “loves the creative process” and wants to find another project. Mr. Eisner’s real estate portfolio includes a ranch in Snowmass, Colorado, a mansion in Bel-Air and an apartment on New York’s Upper East Side, records show.
The estate is coming to market amid a boom in high-priced Malibu properties. Late last year, venture capitalist Marc Andreessen and his wife, Laura Arrillaga-Andreessen, bought a Malibu resort for $177 million from fashion mogul Serge Azria, setting a California record. The Andreessens have since purchased at least two other Malibu properties, according to people familiar with their holdings.
Other Malibu homes have sold for similar amounts in recent years. In 2018, a Richard Meier-designed estate owned by Hard Rock Cafe founder Peter Morton sold for $110 million.
Mr Rappaport said the price tag on the Eisner property is justified because the resort would be nearly impossible to replicate today in terms of scale, location and beach access.
Mr. Eisner, 80, a veteran of the media and entertainment industry, was chief executive of Disney from 1984 to 2005. He now runs the investment firm Tornante Company, through which he owns the British football club Portsmouth.
Write to Katherine Clarke at Katherine.Clarke@wsj.com
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