Property cost Rs. 1754 crore!

This is second costliest deal in the history of America.

Once in a while, record-breaking deals in the real estate sector make headlines. A noteworthy instance has been recorded in California, where a deal worth Rs. 1,754 crore has surpassed all expectations. This property, sold by the Oakley Company’s executive James Jannard for $210 million (approximately Rs. 1,754 crore), has set a new benchmark in the real estate industry.

Situated in the exclusive Malibu region, the property spans 9.5 acres and includes 17 bedrooms, 14 bathrooms, a gym, and two guest houses. Designed by Michael S. Smith, the mansion features ornate columns, floor-to-ceiling windows, and captivating sea views. It boasts expansive grounds and a large pool. The sale was brokered by Kurt Rappaport, marking it as the second-largest transaction in American real estate history. Previously, in 2019, a lavish property was sold for $238 million, making it the largest deal to date. In comparison, back in 2012, billionaire investor Howard Marks purchased the estate from developer Mark Hughes for $75 million. Earlier, in 2002, Marks had acquired it for $31 million from Herbalife co-founder Mark Hughes.