Steven Spielberg Sells Monster Malibu Spread For Just $26M

Director/producer Steven Spielberg and his wife Kate "Anything Goes" Capshaw are saying goodbye to their massive, long-held spread on Malibu's exclusive, rapidly disappearing Broad Beach, but they did it for far less than previously thought. Instead of the rumored $35 million, the house and the two-parcel property were purchased in two separate transactions for a total of just $26 million, Variety says. The buyer in the off-market deal was a corporate entity linked to commercial real estate baron Steve Gozini.

The 7,237-square-foot main house includes six bedrooms plus a second-floor master bedroom that has its own "oceanside terrace, a massage room and private library." The house also has a top-of-the-line home screening room, a pool, and multiple terraces. A detached two-bedroom guesthouse also occupies the property, which affords 150 feet of beach frontage.

The Spielberg-Capshaws bought the property in two transactions—one in 1989 and another in 2000—for a total of $6.57 million (and that's not counting the cost of renovations). In 2013, they put it up for rent, asking $125,000 a month; that price rose to $150,000 a month last summer. The couple mainly resides in neighboring Pacific Palisades.

· Steven Spielberg Sells Malibu Compound in Off-Market Deal [Variety]
· Did Steven Spielberg Just Sell His Huge Malibu Estate for $35M? [Curbed LA]
· Five LA Summer Rentals That Come With Celebrity Landlords [Curbed LA]