Monday, April 2, 2007

Jerry Weintraub's Mammoth Malee-boo Spread


SELLER: Jerry Weintraub
LOCATION: Pacific Coast Highway, Malibu, CA
PRICE: $75,000,000
SIZE: 6.63 acres, 11,810 square feet, 7 bedrooms, 11 bathrooms (in the main house)
DESCRIPTION: This magnificent and rare gated beach front compound sits on nearly 7 incredible acres of lush landscaping. Located on its own private bluff with unsurpassed panoramic views of the ocean. Private road leads to beach. Features 2 separate barns / stables, large riding ring, 3 guest houses, gym, swimmers pool, lighted N/S tennis court and grounds that will leave you breathless. A truly magical paradise. A very rare offering, available for the first time to the public in over 20 years.

YOUR MAMAS NOTES: Hunnies, you are looking at one of the most expensive properties available for purchase in all of California, and it belongs to maverick producer and legendary Hollywood honcho Jerry Weintraub. Children, this man has a resume as long as my living room and has been involved in some big-ass money makers in Hollywood including Ocean's Eleven, Twelve, and Thirteen, The Avengers, Karate Kid I, Karate Kid II, and the phenomenal and classic Robert Altman film Nashville back in 1975.

Early in his career he also managed music icons such as Karen Carpenter, Frank Sinatra, Elvis Presley, Neil Diamond, Bob Dylan to name just a few.

So you know this man is rich. Filthy rich. But even more impressive than his fat bank account is his real estate savvy and foresight. Mister Weintraub purchased his ocean front Malee-boo ranchette in two pieces, the first in June of 1978 when he paid $950,000 for the larger 4+ acre parcel that includes the big blue house. According to property records we located, the second parcel, totalling just over 2.25 acres, was purchased in June of 1980 for $450,500 and includes the three guest units and the swimming pool complex. So altogether Mister Weintraub paid just $1,300,500 for this humongous ocean front estate which means he stands to make more money on the sale of this property than the GDP of some small African nations.

Located just south of Paradise Cove, the tremendous estate is surrounded by other gargantuan properties including Dick Clark's hexagonal beach house that sits right on the sand a few doors down and the impressive property of the O'Malley family who made a shocking amount of money when they sold the Los Angeles Dodgers to Rupert Murdoch's News Corp. in 1998.

Your Mama would like to start with the obvious in regards to this property. While it's not entirely unheard of, seven acres of ocean front property is rare and will certainly grab the attention of any ocean loving tycoon with money to burn on a second, third, or fourth residence. Given the large number of bedrooms, bathrooms and guest units, Your Mama also thinks this property might be perfect for a stupendously rich polygamous family, or as a retreat for some sort of kooky religious cult looking for a place to "teach" and "train" its moneyed followers.

While we haven't seen any photographs of the interior of this house, we are not impressed with the exterior. Obviously the value of this property is in the land, but we would hope a $75,000,000 property would feature a more impressive and appealing house. All due respect to the Weintraub clan, but from looking at the pictures, Your Mama thinks the front of the house resembles an apartment complex in suburban Barstow, Bakersfield or some other B-hole of town rather than the home of someone enormously wealthy. Also, we love the color blue, and we recognize the attempt to marry the house to the seaside location with the pale blue color, we're not finding the blue on this house an acceptable execution of the idea. Unfortunately the blue ust enhances the apartment complex vibe of the house.

The property features every possible recreational option including a couple of stables and a riding ring, something few ocean front properties in Malee-boo have space to accommodate. Although Your Mama has zee-ro desire to mount a horse and take a romantic gallop down the beach, we understand there are plenty of rich folks who enjoy buying ponies and thoroughbreds for their tweener-aged gurls. Children, isn't it just a wee bit disturbing that more oftne than not it's the tweener gurl's daddy who buys her the horse? Draw your own conclusions there, but personally, we think it's an ugly and revealing topic that most parents won't want to touch with a ten foot pole. No pun intended, hunnies.

While there are seven bedrooms in the main house, we are very appreciative of the three guest units on the property. Maintaining a property like this requires any number of caretakers, house maids, stable boys, horse groomers, pool boys, and chefs. Having the extra space to house them is a huge bonus. And if you're going to have live-in staff, it's really better they don't live up in the main house where they are privvy to your intimate, late-night life.

Your Mama is deeply concerned about the multiple acres of rolling lawns and the amount of water required to keep it green in a state that is perpetually short on water. Not to mention the amount of time that is surely required just to mow all that lawn. Obviously any owner of this property will have a legion of landscapers to babysit the lawn, but Your Mama would prefer not to have a dozen gardeners crawling all over the property 7 days a week just to keep the damn lawn mowed down. One of the first items on our list of changes to this property would be to re-install some indigenous and more drought tolerant landscaping.

The view from the back of the house is spectacular and Your Mama can imagine spending many an afternoon smoking a fat blunt sitting out on that bluff-side bench and watching the sun lower until it kisses the glistening waters of the Pacific.

We love sitting on the beach pushing our porcine toes into the soft sad, but Your Mama would sooner sit by the pool in a vat of chlorine than spend half the day hiking up and down the massive bluff out the back of this house. Fortunately, and thoughfully, Mister Weintraub has installed a road that winds down the bluff which is easily navigated in a suped-up golf cart or small convertible automobile.

The property is being represented by The Westside Estate Agency and we certainly defer to their expertise in pricing a property. None the less, as spectacular and impressive a piece of land as this is, Your Mama worries this property may be over-priced. See babies, Your Mama thinks the house needs to be knocked down to make way for something more interesting and befitting of the awesome location. So add another $10-15,000,000 for building a new house, another few million for landscaping and propert security, and you're looking at a jaw-dropping investment of nearly $100,000,000. The number of $100,000,000 properties on the market may be proliferating at a rapid and shocking rate, but let's be honest, very, very few properties sell for more than $50,000,000.

The good thing is, Mister Weintraub probably does not need to sell this house for the money so he can afford to sit on the place until someone makes an agreeable offer.

Mister and Missus Weintraub also maintain several other large and lavish homes including a double lot spread on Doheny Road in Beverly Hills (just down the road from the Ozzy Osbournes), a house in Palm Desert just outside of Palm Springs, and another place in Kennebunkport, Maine where the couple fraternize and frolic with their good friends the George Bushes.

Source: Internet Movie Data Base, Westside Estate Agency

12 comments:

Anonymous said...

This property has been on the market for several months now .... i think it was priced at $65 million last year - right?

Your Mama said...

Yes hunny, you are correct. It was first priced at $65 million.

Anonymous said...

Mama, is there any relation between Jerry Weintraub & David Weintraub, star of the new guilty pleasure "Sons of Hollywood"?

Doug said...

mama, why would it concern you that fathers are buying horses for their tweeny daughters? what should they do, hang out at ralph's until they find a stranger to buy them a pony?

actually, economists watch the spending patterns of the little tweeny princes of the traditional family very closely. (for the record, the last us census listed four traditional families in the state of CA) it seems when the family budget gets a little tight, daddy cuts back on his spending first, next to suffer are the boys. if things STILL don't improve then mommy is told to stop flashing her plastic. the last to be put on fiscal restraints are the little tweeny mall rat daughters. when economists see a reduction in their spending then they start to worry! this is true, btw.

still love your site...you rock!

Anonymous said...

I've been there before. Uh...the grounds are nice, especially if you have horses since there's a stable. And there's a guest house that isn't very impressive.

Anonymous said...

David Weintraub of "sons of Hollywood" is not related.

bigdaddyj said...

There's a website - http://www.pchestate.com/mls/complete.htm

Anonymous said...

I've been there many, many, many times. It is definitely dated, but you can't find a piece of property like it anywhere nearby. Its not to be knocked down, just needs a face-lift. Anyone would be thrilled to live on this property.

Anonymous said...

isn't it interesting that it is listed by Jonas Heller... who has been dating his daughter Jodie for the past few years, I think they are engaged now... maybe daddy's paying her dowry in comission

Anonymous said...

whatever,
in response to some of these comments- the guest house is amazing, its nicer then most homes, and his daughters are awesome.
Being his niece, i'd know, maybe you hsould meet him before you say stuff like this.

Anonymous said...

Interesting comments. I was there when it was being built as a friend of one of his children. The costs quoted were just for the raw land. He paid for the houses and grounds on top. I was back at the house recently and it remains a beautiful home inside and out.

Anonymous said...

The MLS has it at 42mil
http://guests.themls.com/Details/CA/MALIBU/27740-PACIFIC-COAST-HWY/90265/11-515027.aspx#&&PageIdx=9