Magazine article Variety

Paul Allen Backs out of Big Buy on Broad Beach

Magazine article Variety

Paul Allen Backs out of Big Buy on Broad Beach

Article excerpt

OLast year, Microsoft co-founder Paul Allen sold a glassy contemporary on Malibu's billionaire-lined Carbon Beach for $28.8 million to Leslie Moonves because - so the scuttlebutt went - he didn't care so much for the incessant pounding of the surf. His alleged aversion to the sound of crashing waves, however, hasn't stopped the quirky multibillionaire from poking around for another beachfront bauble and, so snitches Our Fairy Godmother in Bel Air and Malibu real estate mover and shaker Heinrich Manoover, he recently kicked up the sand and subsequently backed out of the purchase of a Frank Cehry-deslgned mansion on Malibu's Broad Beach. The idiosyncratically massed 11,000-plus square-foot residence, available off-market at $49.75 million, offers six bedrooms, 10 bathrooms, a 60-foot lap pool and lighted tennis court. A sprawling groundfloor loggia with fireplace spills out to a wide lawn that rolls down to the unsightly rock revetment that Broad Beach homeowners installed several years ago at tremendous expense to keep the ocean from overtaking their multimillion-dollar homes. …

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