Billionaire jay paul buy Clifftop Malibu estate from Heiress

It went on the market with a price of almost $14 million five months ago, but it sold for $13.3 million.

Records show that the buyer is billionaire real estate developer Jay Paul, who already owns a $45 million Bel Air mansion and a home in San Francisco’s affluent Pacific Heights neighborhood that is now reportedly the most valuable house in the city.

Jay Paul bought the 4.3-acre estate from the estate of Karen (Henni) Keland, a fifth-generation member of the family that owns the cleaning products company, who died in August 2021. He bought it from her estate. In May 2017, interior designer Michael Lee sold the house to Keland for a little over $10 million. Keland has owned the house for a little more than four years.

With more than 4 acres, the white stucco and black-accented house are mostly hidden from the street behind gates. It’s located in the foothills above La Costa Beach. Out front, there is a lot of space for parking and a large central courtyard, and you can see the coast from Point Dume to Palos Verdes from almost every angle.

Once inside, the luxurious mansion has four bedrooms and five bathrooms in about 4,000 square feet of Michael Lee-designed living space. Rich hardwood floors, soaring ceilings, skylights, and art-worthy light fixtures are found all over the place. There is also a one-bedroom, one-bathroom guest house that is on top of the detached two-car garage.

Highlights include a living room and dining room with French doors that open to a wraparound balcony with a view of the ocean. There is also a gourmet kitchen with an Ilve stove, Sub-Zero appliances, an eat-in island, custom cabinetry, and open shelves. Other than that, there is a master bedroom with a private balcony and a big bathtub.

Outside, the professionally landscaped grounds are full of olive and palm trees, and there is a pool and spa surrounded by a sundeck. There are also many places where you can eat and relax outside. To make things even better, the La Costa Beach and Tennis Club will get a deed to the house.

This is how it worked: Sandro Dazzan of The Agency was the listing agent, and Xander Tarigo of Rodeo Realty helped the buyer.