Hard Rock Cafe co-founder Peter Morton reached an agreement to sell his spectacular oceanfront front spread on Malibu’s Carbon Beach to gas billionaire Michael S. Smith for a blowing and record shattering $110 million.
Secured behind gates and discreetly obscured behind a row of mature trees, the property encompasses about two-thirds of an acre with significant frontage along one of the most exclusive and expensive stretches of sand in the world. Per tax records and other online resources, the L-shaped two-story main residence contains 4,618-square-feet with four en suite bedrooms and 4.5 bathrooms while the two-story guest house offers another three en suite bedrooms and 3.5 bathrooms in 2,316-square-feet.
It’s an astronomical sale even in the world of luxury real estate. The previous county record was $100 million, which was hit twice in 2016: for the sale of the Playboy Mansion in Holmby Hills, and for a mega-mansion built on speculation in the same neighborhood.