Ted Sarandos, the co-chief executive and chief content officer in Netflix for the huge media, and his wife, former U.S. ambassador Nicole Avant, had their home on La Costa Beach- a coveted stretch along the Malibu coast- hit the market in late March and sold for $14.73 million.
Ted and Nicole had owned the two-story beach house since 2013 when they reportedly purchased it from comedian David Spade. Extensively updated and enhanced during their stay, the residence sits on 60 feet of beachfront and features a private courtyard pool- a rare feature in the coastal community.
The four-bedroom home is about 3,800 square feet and has oceanfront decking, balconies, and walls of windows that look onto unobstructed ocean views. Entered through arched glass doors, the home opens to an open living and dining room area with expanses of glass along the far wall.
A step-up family room sits off the living room area and has French doors that open to covered patio space. A European-inspired chef’s kitchen with high-end appliances fills out the common area.
The sale is indicative of a Malibu housing landscape that has been operating in overdrive since last year. According to Stuart Vetterick, the COVID-19 pandemic completely gave energy and strength to a market that was disturbed in 2018 by the Woolsey Fire. Stuart also added that Malibu is a rigid, compact, and uncompromising market. After the fires, a lot of people left Malibu but COVID changed everything-it brought people back.