The property at 24844 Malibu Road has a rich history, having been purchased by art collector and financier Richard Sachs. He hired famed architect Tadao Ando to design a custom home, which was completed in 2013. Initially listed for $73 million in April 2020, it eventually sold for $57 million in September of that year. Following some unfinished construction, the current seller has now listed the property for $39 million.

About Tadao Ando

Tadao Ando is a renowned Japanese architect known for his minimalist and innovative designs. Born on September 13, 1941, in Osaka, Japan, Ando is a self-taught architect who began his career without formal training, which is relatively uncommon in the field. His work is characterized by the use of concrete, light, and space to create serene and contemplative environments. Here are some key aspects of his life and work:

Before becoming an architect, Ando worked as a boxer and a truck driver. His interest in architecture was sparked by visiting temples, shrines, and tea houses in Japan. He educated himself by reading architectural books, visiting buildings, and traveling extensively to study architecture worldwide.

Ando’s designs are noted for their simplicity and clarity, emphasizing the beauty of raw concrete and natural light. He often incorporates elements of nature into his buildings, creating a harmonious relationship between the built environment and the natural world.

His use of geometric forms and the interplay of light and shadow are central to his designs.

Notable Works

The House

Constructed with over 1,200 tons of concrete and 200 tons of reinforced steel, the house is built atop the sand, supported by 12 massive caissons driven 60 feet into the bedrock below. It features 4 bedrooms, 5 baths, and spans just over 4,000 square feet.

“This is not just a house, this is like a picasso, cubist painting, very important and very rare”

– Richard Sachs

The house is an architectural masterpiece. The home blends modern minimalism with luxurious details, characterized by clean lines, open spaces, and an abundance of natural light. The property boasts breathtaking ocean views, seamlessly integrating indoor and outdoor living. High-end materials and finishes are evident throughout, with spacious living areas, a gourmet kitchen, and elegant bedrooms. The design includes expansive glass walls, allowing for panoramic vistas of the Pacific Ocean, creating a serene and sophisticated ambiance.

Acquisition

After intense negotiations, Belwood’s CEO, Bo Belmont, managed to reduce the purchase price from $39 million to an impressive $21 million, a staggering $32 million less than the original $57 million listing.

Plans

Due to the current owner’s unfinished construction, the property will require approximately $5 million in renovations. Belwood plans not only to renovate the property but also to restore it to its original state as specified by Tadao Ando. Given the rarity and design mastery of this property, it is most fitting to return it to its originally designed condition. The unique materials used, many of which were imported from around the world, contribute to an estimated renovation period of 12-16 months.

Resale

The rarity of this property makes it exceptionally valuable. Comparable homes of similar size in the area are selling in the range of $30-35 million. However, as a Tadao Ando-designed home, it will likely command a significantly higher price. A sale price of $39-40 million would yield a 100% return for our investors. Given its highly prized status, the property could potentially sell in the $40-50 million range.

How to be a part of this

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