The 3-acre spread owned by retired hedge fund founder Adam Weiss and actress Barret Swatek features panoramic ocean views and most recently listed for $89.75 million.
A palatial Malibu compound once owned by Cindy Crawford and Rande Gerber has gone into contract following a recent price drop to $89.75 million, according to records.
The sellers, retired hedge-funder Adam Weiss and his wife, actress Barret Swatek, first listed the 3-acre spread for $99.5 million in March. The final sale price could not be determined.
The owners put significant work into the property after purchasing it from Ms. Crawford and Mr. Gerber for $45 million in 2018, the sellers told The Wall Street Journal at the time, including redoing the landscaping, tearing out a swath of concrete to create a grassy meadow and updating the interiors.
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They opted to sell after purchasing a $45 million estate on the Hawaiian island of Maui, with plans to make that their full-time residence.
The four-bedroom, 7,450-square-foot Malibu villa features outdoor decks on both levels to make the most of its sweeping ocean views, listing photos show. A private path leads directly down to El Sol Beach, while at the back of the house, outdoor space includes a tennis court as well as a pool, spa, pool deck and a cabana with a fireplace, according to the listing with Jade Mills of Coldwell Banker Realty. Ms. Mills was not immediately available for comment.
The home is designed for indoor-outdoor living, and an open-plan great room and dining area on the main level opens out onto the wraparound outdoor deck via sliding glass doors, per the listing.
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A primary bedroom suite boasts a fireplace, dual bathrooms, a walk-in closet and a sitting area. In addition to two other en-suite bedrooms, a fourth bedroom is equipped with a private entrance, kitchen and bathroom, according to marketing materials.
Mr. Weiss, 54, co-founded New York-based hedge fund Scout Capital Management before closing the firm in 2014, and Ms. Swatek, 45, is an actress known for her work on shows including “American Housewife” and “Yellowstone.” They were not immediately available for comment, and the identity of the buyer could not be determined.