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Julia Roberts Sells Malibu House to the Billionaire Next Door

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Though the property was by no means out there on the open market, Julia Roberts and longtime husband Danny Moder have offered certainly one of their “spare” Malibu properties in a quiet $eight million deal, representing a modest enhance over the $7.45 million they paid for the 1.2-acre property 4 years in the past, again in January 2016. The landlocked home, positioned in Malibu’s celeb-favored Level Dume, lies instantly throughout the road from the couple’s a lot bigger, longtime important residence.

Information point out the off-market purchaser is Silicon Valley-based hedge fund tycoon Thomas Laffont, who additionally occurs to personal the home instantly subsequent door. Laffont picked that charming place up last year, paying $13 million for the low-slung ranch, which was as soon as owned by Equinox gyms founder Danny Errico. His Level Dume holdings now embody a hefty 2.four acres of lush land, all sited on one of many neighborhood’s most prestigious streets.

Whereas it appears unlikely that Roberts and Moder ever really spent an evening within the just-sold Malibu home, the modest cottage contains 4 cozy bedrooms and three loos. As befitting an off-the-cuff seashore bungalow, there’s no conventional entrance door; fairly, friends should enter by means of a sliding door that opens instantly into an off-the-cuff eating space. A sunny kitchen accommodates medium-grade stainless home equipment, and a big lounge has whitewashed partitions and a vaulted ceiling.

However the property’s actual worth lies in its land. The sprawling, pancake-flat lot is totally landscaped, with wideset lawns and tall hedges for privateness. Attractive sprays of bougainvillea abound, and there are secluded lounging areas for personal, outdoorsy pastimes like studying, considering life or having fun with romance with a summertime lover.

Laffont, the tech-focused investor who based Coattue Administration together with his extra well-known brother Philippe Laffont, made a reputation for himself with huge, profitable early bets on tech corporations like Uber, Lyft and Snapchat. He and spouse Elizabeth proceed to reside primarily within the swanky Silicon Valley city of Atherton, Calif., the place they personal a $13.eight million mansion.

As for Roberts, the longtime actual property whale continues to keep up her main residence, a blufftop Level Dume property that she’s owned since 2003. She additionally holds the deeds to a multi-acre trip getaway on the dreamlike coast of Hanalei, Hawaii.

A few of Roberts’ different luxe residences embody three flats in a sublime, prewar constructing in Manhattan’s Gramercy Park space and an enormous ranch within the semi-remote city of Taos, New Mexico. And earlier this yr, she paid $8.3 million for a historic dwelling in San Francisco’s searingly costly Presidio Heights neighborhood.

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