Public Storage billionaire wants $127.5 million for her Malibu compound

Tamara Gustavson — daughter of B. Wayne Hughes, the late self-storage titan who donated a report $400 million to USC — is asking $127.5 million for her prized Malibu property.

It’s an enormous sum, and one which showcases the dramatic surge of Southern California’s luxurious market because the flip of the century. Data present Hughes purchased the property for $20 million in 2003.

At $127.5 million, it’s the fourth-priciest property in the marketplace in L.A. County, however in a group as prosperous as Malibu, all bets are off. Enterprise capitalist Marc Andreessen redefined the market final yr when he paid $177 million for a Malibu compound, and former Disney Chief Govt Michael Eisner is at present procuring round his house a couple of miles away for $225 million.

Gustavson’s place provides a uncommon mixture of dimension, scale and site. It spans 3.5 acres on a bluff above Paradise Cove and descends by way of non-public path to 208 toes of seaside frontage. The compound features a important home and two guesthouses that mix for eight bedrooms and 11.5 bogs throughout almost 11,000 sq. toes.

A gated driveway winds its method towards the two-story important home, passing a tennis court docket alongside the way in which. Inbuilt 2001, the Mediterranean-style spot takes benefit of the oceanfront setting with pocketing partitions of glass in almost each dwelling house.

There’s a proper lobby, a chandelier-topped eating space, a tiered movie show and a chef’s kitchen with a U-shaped island. Patios lengthen exterior on the principle degree. Upstairs, a terrace wraps across the house’s bottom.

Grassy lawns and towering hedges separate the principle home from the guesthouses — one among which provides a voluminous wood-and-glass house with a fitness center and yoga studio.

The sale income can be a drop within the bucket for Gustavson, who owns an 11% share of Public Storage and has a internet value of $7.6 billion, in response to Forbes.

Jade Mills of Coldwell Banker Realty holds the itemizing.