Hedge fund billionaire Joshua Kushner and fashion model Karlie Kloss, married since 2018, have purchased a pretty impressive family home. It's the famous Malibu Wave House by late architect Harry Gesner, which has been purchased by the couple for a reported $29.5 million.
That's a steep discount of $20 million compared to the $49.5 million the property was first listed for in the summer of last year by its previous owner, the late music executive Mo Ostin, who had owned it since sometime in the late 1980s until his death in 2022. Before that, the house was, for a time, the property of rock legend Rod Stewart.
Regardless of its current owner or its purchase price, Wave House is an iconic and unique part of the real estate landscape in Malibu. Its 6,200 square feet frame, on stilts right above the Pacific coast, resembles the famous Sydney Opera House, but its true inspiration is the ocean itself: According to architectural lore, Gesner completed his first sketch for the home on his surfboard in the waves nearby. Here's how it was described in its listing last year:
"Tucked into a hidden cove in Western Malibu, the home commands majestic views of the ocean waves, distant islands and surrounding landscape. The residence has two distinct parts. Three enormous oceanfront vaulted public rooms and a stunning beachfront primary suite with hot tub and sauna, plus a five-bedroom upper level that stretches the width of the property to offer ocean views from nearly every room."
Despite the property being on a less than one-acre lot, there is also room for a garage and guesthouse.
Kushner and Kloss and building up a small empire of residential real estate, with Wave House being only their latest acquisition. In 2020, they paid $21.5 million for a 15,000-square-foot mansion in Miami, and in 2021, they paid $35 million for a deluxe 7,200-square-foot penthouse in the New York City neighborhood of Nolita. That penthouse is inside the Puck Building, a condo project started by Kushner's own family.
As for Wave House, you can take a look at it for yourself in the video below, courtesy of Carolwood Estates on YouTube:
