A venture capitalist has purchased the Wave House, an iconic Malibu property designed to look like cresting waves, according to people familiar with the situation.
The 1950s-era Mid-Century Modern residence, designed by the late architect Harry Gesner, was offered at $42.5 million. It was previously owned by the late Mo Ostin, an influential music executive who led Warner Bros. Records for decades. Ostin, who died in 2022, bought the property in the late 1980s.
The roughly 6,200-square-foot house, which has drawn comparisons to the Sydney Opera House, sits on stilts above the beach, with a circular living space surrounding a conversation pit with a fireplace. Gesner famously paddled out to the surf break in front of the property and sketched the plans for the six-bedroom house from his surfboard.
The house was once also owned by British rocker Rod Stewart. Zen Gesner, Harry Gesner’s son, grew up next door and recalled the musician as a great neighbor. He would dance on the deck and once, he invited the entire Scottish national team over for a game of soccer on the beach, he said.
The property, which comprises less than an acre, also has a small guesthouse and a garage.
The Wave House was listed by Drew Fenton of Carolwood Estates.
