Billionaire David Saperstein’s Beachfront Malibu Compound Hits the Market for $115 Million
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You might want to change the name. Mar de Amor, or Sea of Love, sounds just a little cheesy for a stunning, ultra-modern Malibu oceanfront estate with such an eye-watering sticker price.
Broadcasting billionaire David Saperstein—who founded Metro Networks, which provided traffic reports to radio stations—built this 10,600-square-foot compound in the late 1990s.
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Sitting on a 2.6-acre lot in Malibu’s celebrity-rich Paradise Cove enclave (Walmart heiress Ann Walton Kroenke lives next door), the home comes with private access to the exclusive Paradise Cove beach, a jaw-dropping infinity pool and spectacular views of the crashing Pacific.
Other A-list neighbors you’re likely to bump into while strolling the sand or paddleboarding in the cove: actor Leonardo DiCaprio, Friends star Courteney Cox, tennis ace John McEnroe and former Paramount Pictures chief Frank Mancuso Sr.
If the estate sells for close to its $115 million asking, it would become the fourth most expensive home ever sold in California, and the most expensive in the increasingly off-the-charts Malibu area.
And, believe it or not, the price is not that unrealistic; last year WhatsApp co-founder Jan Koum reportedly paid $100 million for a 14,000-square-foot spread just down the beach. Back in 2018, natural gas billionaire Michael Smith dropped $110 million for an estate in nearby Carbon Beach.
What will likely appeal to buyers is Mar de Amor’s truly breathtaking design. With two separate wings laid out like a wedge and connected by a central entry, the home has architectural panache.
Imposing gates off Pacific Coast Highway lead down an impressively long paved driveway, past a pair of kids’ tree houses and a lighted tennis court, to a large motor courtyard.
The two-story entry features a soaring 18-foot-tall, shimmering crystal chandelier, centered in a sweeping Bianco Carolina marble circular stairway. Talk about making a dramatic entrance.
The second floor has vast open-plan living areas with seemingly endless floor-to-ceiling windows. There are 12 bedrooms and 14 bathrooms in total, with the master suite clad in white tile and stark-white walls while making the most of its 180-degree ocean views.
The chef’s kitchen is all industrial-grade stainless-steel cabinets and appliances, shiny black stone flooring and a stark-white, Nano Glass, stone-surfaced island. The kitchen even has its own elevator to service the lower-level entertaining areas.
As you’d expect of a money-is-no-object build, the house includes a Hollywood-style, 20-seat movie theater with the latest digital projection and Dolby sound. There’s also a fitness center with premium equipment.
Of course, Saperstein, who sold Metro Networks in 1978 for a reported $1.25 billion, is no stranger to the mega-priced luxury property market. He and his ex-wife Susan built the spectacular, Palace of Versailles-inspired Beverly Hills mega-mansion called Fleur de Lys. After their split in 2014, the ex-Mrs. Saperstein sold it for $102 million.
Then in 2018, Saperstein himself off-loaded his 123-acre equestrian ranch in California’s Simi Valley, known as Hummingbird Nest Ranch, for $33 million.
The Mar de Amor sale is being handled by listing agent Drew Mandile, of Sotheby’s International Realty.
The master bath has a copper tub.
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