The property involved in this transaction is a single-family residence located at 33602 Pacific Coast Highway in Malibu. This midcentury-modern home, designed by the late architect Harry Gesner, is set on 0.7 acres and spans a total of 6,451 square feet. It features six bedrooms and eight bathrooms, with a primary suite that faces the beach. The sale price for the property was $29,500,000, which translates to a price per square foot of $4,573. The property was originally listed for $49.5 million.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $29,500,000
• Address: 33602 Pacific Coast Highway
• Market: Malibu
• Acres: 0.7
• Square Footage: 6,451
• Price per Square Foot: $4,573
• Buyer: Karlie Kloss & Joshua Kushner
• Seller: Estate of Mo Ostin
• Broker Representatives: Chris Cortazzo & Zen Gesner - Compass; Dena Luciano - Douglas Elliman; Drew Fenton - Carolwood Estates

This transaction marks the acquisition of Rod Stewart's former Malibu home, known as the Wave House. The estate sold by the late record executive Mo Ostin reflects a notable change in ownership within the Malibu luxury market. The deal involved prominent figures in the real estate industry, showcasing the collaboration of multiple brokers to facilitate this high-profile sale.