Well, that was fast. Only two days after Yolanda wrote about it — and scarcely two weeks after first being listed — superstar realtor Kurt Rappaport’s Malibu “crash pad” sold for $11,000,000 in what was likely an all-cash deal. Though the buyer’s identity is concealed behind a blind trust, Yolanda happens to know the proud new titleholder is Michael Rapino, longtime CEO of multi-billion-dollar conglomerate Live Nation Entertainment.
Mr. Rapino hails from that wild and woolly foreign country up north — some call it Canada or America’s hat — and for the last 15 years he has been married to Star Trek actress Jolene Blalock, with whom he has three minor children.
Anyway, Mr. Rapino recently renewed his LiveNation contract for an additional five years, giving himself a base salary equivalent to $9 million in cash per annum, plus hundreds of thousands of company shares that vest over the length of his agreement. Cha-ching!
Since Yolanda wrote about this house barely two weeks ago, we don’t have much more information to add here, but below are photos and a quickie refresher to remind y’all of what this place is all about.
The oceanfront abode has several nifty features like an unusually large amount of off-street parking, floor-to-ceiling glass windows, a “designer inspired living room”, a chic and sleek kitchen with high-end Viking appliances, and a roomy open floor plan. There are a total of 4 beds, 3.5 baths in 3,305-square-feet of living space.
This, as you might expect, is not Mr. Rapino’s only eight-figure house in Los Angeles. This is merely his weekend retreat! Way back in 2013, he paid financier John Rocchio a fat $14,750,000 for a big Traditional-style mansion compound on one of Brentwood’s best streets, located just off Mandeville Canyon.
The two-parcel estate features a gated entrance, a tree-ringed motorcourt, and a large grassy backyard. The rectangular pool is surrounded by a flagstone terrace and anchored by a large outdoor bar with BBQ and a built-in flatscreen TV. Numerous luxury features abound and include a full wine cellar, a home gym, and a formal dining room w/ a coffered ceiling. There is also a guest house and oodles of off-street parking.
Listing agent: Mark Gruskin & Kurt Rappaport, Westside Estate Agency
Michael Rapino’s agent: Mark Andrew Smith, Coldwell Banker