CA's Most Expensive Home Sale Ever: Malibu Estate Shatters Record

MALIBU, CA — Last year, Jay-Z and Beyoncé set a California real estate record when they paid $200 million for a concrete compound in Malibu.

But now there's a new record for the most expensive home sale in Golden State history: The $210 million deal for a Malibu mansion sold by Oakley founder James Jannard, just 7 miles up Pacific Coast Highway in Malibu, the Los Angeles Times reported.

The property is a gem among gems, even in Malibu's enviable real estate market: The 9.5-acre lot includes 300 feet of ocean frontage near El Pescador State Beach.

The 15,000-square-foot home is an Italian-style villa built by Ferguson & Shamamian Architects that boasts eight bedrooms and 14 bathrooms.

The home's interior was designed by Michael S. Smith, who remodeled the White House's Oval Office and living quarters under President Barack Obama.

"Echoing the reserved character of the exterior, the interiors employ a classical vocabulary of ornament, but maintain a relative simplicity," the architecture firm wrote of Smith's work in the Malibu home. "Glass and steel windows and doors which punctuate the gracious, airy plan, and a screening room with a retractable roof are two reminders that this is a modern renovation."

Outside, the property features a large courtyard and garden, a generous lawn and a pool that overlooks the ocean. The estate also includes a separate gym structure and two guesthouses.

The sale was a quiet one; the house was never officially put on the market. The identity of the buyer is unclear, as records show it was purchased by a limited liability company, the Times reported.

Jannard, who founded sunglasses brand Oakley in 1975, turned a hefty profit on the sale. He bought the property in 2012 for $75 million from billionaire investor Howard Marks. Marks purchased it from Herbalife co-founder Mark Hughes for $31 million a decade earlier, according to the Times.

The sale comes after Beyoncé and Jay-Z last May paid $200 million for a strikingly modern home perched above the Pacific Ocean in Malibu.