According to TMZ, the billionaire topped the record books with the luxury mansion, reporting that the purchase is the most money an African American has ever spent on a home in the United States.
Purchased from the family who co-founded Public Storage, the four-bedroom, oceanfront estate covers 11,000 square feet of living space, including two guest houses, a home theater, a tennis court, a gym, and a yoga studio. Overlooking the Pacific, Allen’s property overflows with luxury features, especially in the home’s primary suite with its own fireplace, bathroom, custom walk-in closets, and private terrace.
The outlet compares the TV mogul’s Malibu estate to a palace, calling it “palatial” and “breathtaking.”
The expansive lot, along with its massive ocean views, is also connected to the beach, which is accessible through a path that winds down the property to the sandy shore. Next door to the property, Allen can find his neighbor, WhatsApp co-founder Jan Koum.
The Malibu purchase, reportedly worth $500 million, isn’t the only property in Allen’s real estate portfolio. The producer also reportedly owns Aspen, Beverly Hills, Maui, and New York properties.
VladTV reports that before Allen’s nine-figure purchase, power couple Beyoncé and Jay-Z held the top spot for the largest home purchase for an African American in the United States with an $88 million price-point on their mansion in Bel-Air.