WEA News

WEA in the News: Frank Gehry’s Borman house in Malibu fetches $24.15 million

$24,150,950 — Malibu

On Broad Beach Road, a Frank Gehry-designed home once listed for as much as $57.5 million sold for about $5 million less than the most recent asking price of $29.995 million.

Mortgage documents obtained by The Times show that the buyer was a limited liability company that lists Ryan Hekmat as the agent for service. Hekmat is the son-in-law of Isaac Larian, billionaire and chief executive of the toy company MGA Entertainment.

Named the Borman House for its original owner — late PennCorp Financial chief Burton Borman — the 11,413-square-foot house sits on 160 feet of sandy beachfront. A courtyard entry, manicured gardens, a tennis court and a lap swimming pool make up the grounds.

Kurt Rappaport of Westside Estate Agency was the listing agent.

Click here to read the full article on the latimes.com.