This deal competes with any dinosaur, any tomb-raiding swashbuckler, any extra-terrestrial creature beloved storyteller Steven Spielberg has ever brought to life. Word has it that the Oscar-winning director-writer-producer and his wife Kate Capshaw recently sold their Malibu house for a hugely profitable $26 million. This significant transaction not only highlights the couple's successful investment in real estate but also showcases the luxury market's appeal in Malibu, where breathtaking views and celebrity neighbors drive prices sky-high.
The final sale price was a reduction from the original list price of approximately $35 million. Considering that Spielberg initially acquired the property for only $6.5 million, this lucrative profit of $20 million certainly qualifies as a box-office smash in the real estate world. Such a financial return underscores Spielberg's acumen, not just as a filmmaker but also as a savvy investor in valuable property.
With the windswept beauty of Broad Beach right outside the back door, it’s easy to understand why the property was valued so highly. In fact, Spielberg and Capshaw had been renting out the property to a tenant for a staggering $150,000 a month, according to reports! It makes one wonder who has that kind of cash for a rental? Apparently, the David and Victoria Beckhams do! This level of rental income illustrates the desirability of the area and the luxurious lifestyle that comes with it.
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Alas, interior pictures of the property are scarce, but what we can tell is that the estate features a two-story, 7,327-square-foot Craftsman-style house on the main lot, along with a reportedly two-bedroom guest house. The first floors are generous with windows, allowing natural light to flood the space. On the streets of Malibu, there's buzz that the common areas on the first floor open up to a central courtyard, creating a seamless indoor-outdoor living experience. The house is stunning inside and out, boasting four bedrooms on the first floor and an additional three on the second level.
Of course, the house comes with a screening room and library, essential for a director of Spielberg's stature. Another attractive feature might have been the massage room in the master suite, or the swimming pool and spa located in the central courtyard. These amenities reflect the luxury lifestyle associated with Hollywood elites and provide a glimpse into the comfort and opulence enjoyed by its residents.
The identity of the buyer has yet to be confirmed, but reports suggest that real estate tycoon Steve Gozinin is the man behind the deal. Regardless of who the new owner is, they will find themselves among Hollywood luminaries, including neighbors like Pierce Brosnan, Dustin Hoffman, and Ray Romano. The allure of living in such a prestigious neighborhood only adds to the excitement surrounding this property transaction.
