Following a rumored $20 million markdown, supermodel Karlie Kloss and her spouse Joshua Kushner are the pleased owners of one of the most famous oceanfront villas in Malibu, California.
The Wall Street Journal reports that Kloss, 32, and Kushner, 39—the brother of Ivanka Trump’s husband, Jared Kushner—are thought to have purchased the “Wave House,” a stunning piece of architecture.
The six-bedroom, eight-bathroom mansion was listed for $49.5 million in June 2023, but the couple only paid $29.5 million for it, according to the outlet.
The first new owners of the house in almost 30 years are fashion designer Karlie Kloss and her businessman husband. But they become the latest in a long line of wealthy Hollywood people who have owned and occupied the house.
The Journal reports that the last-known owner was Warner Bros. Records executive Mo Ostin, who died in 2022, having become famous within the music industry for his ability to spot premier talent.
He purchased the home in 1989 from legendary British rocker Rod Stewart, who bought it in the early 1970s.
However, even without its impressive owner heritage, the home’s impressive stretch of Malibu coastline and incredibly distinctive architecture have made it a widely adored property.
Designed by “visionary architect” and avid surfer Harry Gesner in the early 1960s, the home was intended to “emulate cresting waves,” according to its listing. The midcentury modern dwelling is perched on stilts, on top of the beach, providing its owners with unparalleled ocean views.
Kloss and Kushner, who share two children, will find plenty of space for their brood inside the home, which boasts five upper-level bedrooms and a beachfront primary suite, complete with a hot tub and a sauna.
Each of the bedrooms faces the ocean, ensuring they all offer the same breathtaking vista from the large windows.
Indeed, every element of the property nods to the ocean in one way or another—from the three wraparound, circular decks that are meant to “echo the shape of the incoming surf” to the “hand-cut copper shingles” that resemble fish scales on the roof.
Gesner famously spent two days on a surfboard in the ocean, sketching out plans for the property, so he could create the perfect design. Reports suggest he drew the original design on his balsa wood board.
When the home was initially listed for sale by Ostin’s estate in 2023, Gesner’s son, Zen, told the Journal that his father had wanted the property to “have the look of a giant wave at the very peak of its strength.”
He added: “If you were surfing or on a boat fishing, you’d look back at the shore and see this really organic design that looked like a wave approaching the ocean.”
Although the sum Kloss and Kushner are understood to have paid for the “Wave House” is well above the standard property price, it pales in comparison with some of the other megamansions that have been sold in the area in recent months.
In early August, a local listing agent announced plans to put a $300 million home on the market in the area, having already been responsible for breaking the local property price record twice.
Kurt Rappaport is the man behind the sale of a $190 million property purchased by Beyoncé and JAY Z in 2023, before going on to offload a $210 million mansion in the same neighborhood.
While Kloss and Kushner might not own any of America’s most expensive homes, they do boast an impressive property portfolio.
According to reports, the couple bought a $21.5 million property in Miami in 2020 and an apartment for $35 million in New York City in 2021.