First Priced at $125 Million, Paradise Cove Estate Sells for $91 Million to Hollywood Filmmaker

Almost a year after it first popped up for sale with a whopping $125 million ask, a blufftop mansion overlooking Malibu's gorgeous Paradise Cove officially traded hands at year's end for a discounted but still hefty $91 million - ranking as one of 2022's priciest Malibu deals, behind only a media mogul's $100 million purchase of a nearby estate.

As The Wall Street Journal first reported, the buyer is Edward "Ted" Hamm Jr., an Oscar-nominated movie producer ("Get Out," "BlacKkKlansman"), and a fabulously wealthy heir to the Hamm's Beer Fortune. Hamm is also the widower of Hamptons socialite and artist Elisabeth Kieselstein Cord Hamm, who died in 2021 at age 41 due to complications from Lyme disease.

The sellers were British video game programmer/director Jon Burton and his ex-wife Helen Musk, who paid $36.5 million for the 1970s home almost exactly a decade ago, back in late 2012. The couple subsequently spent millions more on an extensive renovation of the premises, in collaboration with architect Doug Burdge.

Hamm's newly acquired Spanish Colonial-style residence is perched atop a 6.7-acre blufftop parcel offering around 340 feet of ocean frontage with sweeping views of Palos Verdes, Point Dume and Catalina. The main house features six bedrooms and nine baths in almost 17,000 square feet of two-level living space, while a guesthouse adds two more bedrooms.

Among the highlights: a double-height foyer flowing to a living room boasting a fireplace and French doors spilling outside. An expansive great room is spotlighted by a gourmet kitchen outfitted with high-end appliances and a rotunda-style breakfast room, plus a fireside family room displaying pocketing doors opening to a terrace.

Elsewhere is an upstairs master retreat sporting a private balcony, seating area and two ocean-view offices, along with a movie theater and gym; and outdoors, the resort-inspired grounds host a tennis court, 9-hole mini-golf course, an infinity-edge pool, lots of spots for al fresco lounging and entertaining, and a pathway winding down to the beach.

In addition to his new Paradise Cove property, records reveal Hamm also owns another lavish Los Angeles home - an $18 million English Country-style spread called Marmont Manor, which is one of the largest Hollywood Hills estates with 17 bedrooms and 17 baths in 20,000 square feet of living space. As for Burton, he's downsized to a $10 million home elsewhere in Malibu.

Kurt Rappaport of Westside Estate Agency and Sotheby's International Realty's Lisa Laughlin held the listing; Paul Lester and Aileen Comora of The Agency repped the buyer.

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