In a record operation for the California real estate market, Jim Jannard, the visionary founder of Oakley, has sold his imposing mansion in El Pescador State Beach for the impressive sum of 210 million dollars. This sale not only sets a new price standard in the state of California, but also highlights the growing appeal of luxury properties in the Malibu coastal and surf area.
The property of more than 4 hectares, known as “The Jannard House”, is a splendid complex that includes the main house, two guest houses and a pool with panoramic views to the Pacific Ocean. The mansion, designed by renowned architects Ferguson & Shamamian, spans almost 1,400 square meters and has eight bedrooms and fourteen bathroomsoffering unparalleled luxury in every corner.
Jim Jannard, a Los Angeles native who dropped out of the University of Southern California (USC) to found Oakley in 1975, turned the brand into a giant in the eyewear and sportswear industry. After sell the company in 2007 for $2.1 billion, Jannard focused on his company RED, revolutionizing cinematography with affordable HD cameras for independent filmmakers. In his latest business feat, sold RED to Nikon this year for $85 million.
The sale of his mansion in Malibu, which surpassed in price Jay-Z and Beyoncé’s recent purchase of a property for $200 million, was carried out discreetly without the property officially appearing on the market. The purchase was made through a Delaware-based limited liability company, and details of the new owner have not yet been disclosed.
Jannard acquired the property in 2012 for $75 million and has tripled its price, although at the time it was a notable increase over the $31 million price paid by investor Howard Marks in 2002, who in turn purchased it from Herbalife co-founder Mark Hughes.
It should be noted that it is not the only operation underway by Jannard, who recently put his Brutalist mansion in Beverly Hills on the market for $68 million, an equally impressive complex that has been described as a “supervillain lair.” With an incredible patio, five bedrooms and 10 bathrooms distributed over 1,600 square meters.
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