Billionaire Daryl Katz lands a Malibu estate for $85 million

"The off-market transaction ties David Geffen's compound, which sold last year for the same price, for the most expensive residential sale recorded in the beach community. The buyer is a corporate entity with ties to Daryl Katz, the billionaire investor and owner of the Edmonton Oilers hockey franchise."

"Designed by Malibu-based Scott Mitchell Studio, the monolithic-vibe house was designed to capture the ocean-view setting while maintaining a clean and elegant form. Horizontal lines, black granite tile and board-formed concrete walls are among features of the 9,000-square-foot house. Expanses of floor-to-ceiling windows are centered toward the coastline."

"The home, completed in 2012, has six bedrooms and seven bathrooms, tax records show. There are two guest suites plus an infinity-edge swimming pool. A large swath of lawn and minimalist landscaping complete the coastal setting."

A Malibu oceanfront estate has sold for $85 million, matching the record price set by David Geffen's compound sale the previous year. The buyer is a corporate entity connected to Daryl Katz, a billionaire investor and Edmonton Oilers owner. The five-acre property, designed by Scott Mitchell Studio and completed in 2012, features 9,000 square feet of living space with six bedrooms, seven bathrooms, and two guest suites. The modernist home showcases horizontal lines, black granite, board-formed concrete walls, and expansive floor-to-ceiling windows overlooking the Pacific Ocean. The estate includes an infinity-edge pool and minimalist landscaping. Katz has an established presence in Los Angeles luxury real estate, having previously purchased properties in Bel-Air.

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