Kurt Rappaport, one of the country’s leading realtors, has made a significant purchase in Malibu. The 4,500-square-foot property comes with a rich history of Hollywood connections.
This beachfront estate, previously owned by Lee Majors and Farrah Fawcett, was purchased for $22.5 million. Securing it at nearly $20 million less than its 2022 listing price, Rappaport continues to showcase his prowess in real estate.
A Property Steeped in Hollywood History
This coastal home has seen its fair share of celebrity residents. Originally owned by iconic duo Lee Majors and Farrah Fawcett in the 1970s, it later became a residence for tech moguls and music industry giants.
Google co-founder Sergey Brin and music executive Jimmy Iovine have also called this splendid estate home, adding to its star-studded legacy. It’s a testament to the property’s enduring appeal and prime location.
Prime Malibu Location
The estate is nestled in the heart of Malibu’s most sought-after beach area. Offering sweeping views of the coastline, it is located on the deepest and sandiest part of the beach.
Every room in this 5-bedroom property boasts ocean views, ensuring a serene and picturesque living experience. The location itself is a major selling point, attracting high-profile buyers.
Luxurious Features and Design
The home is designed like a classic Cape Cod retreat.
It includes an oceanfront deck, perfect for soaking up the sun and enjoying the sea breeze.
The property also features a private courtyard, a detached guest house, and a media room. The custom kitchen is another highlight, ideal for cooking enthusiasts.
Every detail of the home is tailored to offer luxury and comfort.
An Impressive Financial Move
Kurt Rappaport’s acquisition of this property is noteworthy not just for its celebrity past but also for the financial savvy it represents. Purchasing it for $22.5 million, he saved nearly $20 million off its original listing price.
This purchase demonstrates Rappaport’s ability to identify valuable opportunities and secure them at exceptional prices. It’s another feather in the cap for one of America’s top realtors.
Previous Ownership
Juliana Terian, CEO and owner of Rallye Motor Company, was the previous owner of this Malibu gem. She had acquired the property for $18 million in 2012.
Repped by Cooper Mount and Joyce Rey, Terian decided to list the property at $42.5 million in 2022. Meanwhile, Rappaport chose to represent himself in this lucrative transaction.
Rappaport’s decision to handle the deal personally underscores his confidence and expertise in high-stakes real estate negotiations.
A Home for High-Profile Clients
Kurt Rappaport is known for catering to a celebrity clientele. His list of clients reads like a who’s who of Hollywood.
This purchase further cements his reputation as a realtor who understands the unique needs and tastes of the elite. His personal investment in such properties showcases his commitment to excellence and luxury living.
Continued Influence in Real Estate
Rappaport’s latest acquisition is a testament to his continued influence and success in the real estate industry.
By securing a property with such a rich history and prime location, he once again proves why he is considered a top player in the field.
Kurt Rappaport’s ability to navigate the competitive and high-stakes market of Malibu real estate is unmatched. His recent purchase only adds to his impressive portfolio.
Kurt Rappaport’s purchase of the former Lee Majors and Farrah Fawcett Malibu home underscores his expertise in high-end real estate.
With a keen eye for valuable properties and a knack for negotiation, Rappaport continues to lead in the luxury real estate market.
