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Byron Allen creates history with the purchase of the most expensive home

Byron Allen creates history with the purchase of the most expensive home

Byron Allen creates history with the purchase of the most expensive home

Byron Allen creates history

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  • Billionaire media magnate Byron Allen is moving into the Paradise Cove neighbourhood of Malibu.
  • The 10,698 square foot house has eight bedrooms and twelve bathrooms and is situated on 3.6 acres above the seashore.
  • According to The Wall Street Journal, Allen’s new home has been on the market since May with an initial price tag of $127.5 million.
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Billionaire media magnate Byron Allen is moving into the Paradise Cove neighbourhood of Malibu.

The largest privately held media corporation in the United States with headquarters in Los Angeles, Allen Media Group / Entertainment Studios chairman and CEO reportedly paid $100 million, the highest amount ever paid by an African-American buyer in the country. The 10,698 square foot house has eight bedrooms and twelve bathrooms and is situated on 3.6 acres above the seashore.

Allen will now make a neighbour called to Jan Koum, co-founder of WhatsApp and owner of a $190 million compound on the bluff close by. According to The Wall Street Journal, Allen’s new home has been on the market since May with an initial price tag of $127.5 million.

The sale of this property, which was originally owned by billionaire and Public Storage heiress Tammy Hughes Gustavson, ranks as the third-highest expensive sale in the state of California’s real estate market this year and the most expensive in Malibu, particularly in 2022. The Mediterranean-style resort contains two guesthouses, one of which serves as a gym and yoga studio, a movie theatre, a tennis court, and other amenities. According to Dirt, Terence Hill of BT Equities represented the buyer and Jade Mills of Coldwell Banker Realty represented the listing.

The 61-year-old native of Detroit, Allen, owns sizable personal real estate holdings. More than $500 million is spent on his opulent homes in Maui, Aspen, New York, Los Angeles, and other cities. The value of his two Beverly Hills houses, which are close to one another, is $32 million.

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