Malibu Home Designed by Frank Gehry Sells for $24.15 Million

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A Malibu beachfront compound once listed for as much as $57.5 million sold for $24.15 million this month, according to a report.
The 11,413-square-foot home designed by architect Frank Gehry on Broad Beach Road encompasses more than an acre and has 160 feet of ocean frontage, the Los Angeles Times reports.
The Malibu mansion features a courtyard entry, manicured gardens, a tennis court and a lap swimming pool.
The most recent asking price was $29.995 million, but the Times reports that the home sold for about $5 million less than that to a company that lists Ryan Hekmat as the agent for service.

Hekmat is the son-in-law of Isaac Larian, chief executive officer of MGA Entertainment, the biggest privately owned toy company in the world.

The home has been dubbed the Borman House, after its original owner — the late PennCorp Financial chief Burton Borman.


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