Rob DeSantis' $150M Beach Bungalow Hits the Market in Manhattan Beach

California Tech Tycoon Lists 'Beach Bungalow' Mansion for a Record $150 Million

Manhattan Beach, California, is about to witness a potential record-breaking real estate transaction. A beachfront mansion, which once stirred controversy in the community, is now up for grabs for a whopping $150 million. The seller, tech investor Rob DeSantis, who co-founded software company Ariba and was an early investor in LinkedIn, is confident about the value his property brings to the table.

The Making of the Manhattan Beach Mansion

DeSantis purchased three adjacent lots in Manhattan Beach, a coastal city approximately 20 miles from Los Angeles, for around $13 million in 2000. He then dedicated several years to design and construct a seven-bedroom home with a pool. The result was a stunning 12,640-square-foot property with a 'beach bungalow' aesthetic, featuring teak-framed windows and about 100 feet of Pacific Ocean frontage.

Record-Breaking Price Tag

While real estate transactions above $100 million are not uncommon in Los Angeles and Malibu, Manhattan Beach has not yet seen a sale surpassing $30 million. If DeSantis' property sells anywhere near its asking price, it will become the most expensive sale in Manhattan Beach's history, according to Eric Fonoimoana of Compass, one of the listing agents.

Why the High Price Tag?

DeSantis believes his property offers everything that other high-priced properties in Malibu offer, and in some cases, even more. The house is a mere six-minute walk to dozens of restaurants and is conveniently close to downtown L.A. and the airport. The property's unique location and design are what make it stand out and justify its high asking price.

Impact on the Community

The construction of this mansion previously caused a stir in the community, leading to an ordinance that limits the size of homes in Manhattan Beach. However, the potential sale of this property could set a new precedent for real estate transactions in the area.

Whether you're a prospective homeowner, a real estate investor, or an industry professional, this development is one to watch as it could redefine the real estate landscape in Manhattan Beach.