Tom Petty’s Malibu Seashore Home Lists for .85 Million

Tom Petty’s Malibu Seashore Home Lists for $9.85 Million

Tom Petty’s seaside home in Malibu, Calif., is coming in the marketplace for $9.85 million, in keeping with itemizing agent Chris Cortazzo of Compass. 

Situated on Escondido Seashore, the property includes a cabin-style principal home in addition to a separate guesthouse that Mr. Petty used as a music studio, Mr. Cortazzo stated. 

A belief tied to the late musician paid about $6.8 million for the roughly 2,200-square-foot residence in 2010, property information present.

Mr. Petty, a three-time Grammy winner identified for hits like “American Lady” and “Free Fallin,’” died in 2017 aged 66.

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“Tommy acquired a variety of inspiration” from the Malibu home, stated his spouse, Dana Petty, in an e-mail. “He at all times had his little [tape] recorder and guitar, continually writing and creating. Many songs have been impressed and written whereas staying there.”

She stated one of many songs he wrote on the home was “One thing Good Coming,” which incorporates the road: “I’m watching the water, watching the coast, all of the sudden I do know, what I need probably the most.”

Mr. Petty cherished that “the seaside home was just about all authentic, inbuilt 1950, with a comfortable cabin really feel,” stated Ms. Petty, noting that the couple spent a variety of time there with household and buddies, ordering takeout from the close by restaurant Malibu Seafood. She stated the property served as their second residence; that they had one other property in Malibu that served as their main residence.

Tom Petty in 2017.

Starmax/Newscom/ZUMA Press

Mr. Cortazzo, who additionally labored on Mr. Petty’s buy of the property in 2010, stated the home was a sanctuary for the musician. Mr. Petty may stroll on the seaside with out being bothered, Mr. Cortazzo stated, and construct bonfires on the seaside with buddies within the evenings.

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Often called “Moose Lodge,” the primary home is fabricated from wooden, brick and stone, Mr. Cortazzo stated. It has two bedrooms, together with a main suite with a tiled hearth, a deck and an en-suite toilet with ocean views. The open-plan kitchen and front room space has a big hearth and floor-to-ceiling brick chimneypiece. There’s a wood-paneled eating room with library shelving and an antler chandelier. A staircase in the lounge results in a lower-level household and media room.

Outdoors, an oceanfront deck has steps to the sandy seaside. The property additionally features a rose backyard and an out of doors dwelling and eating space with a barbecue, Mr. Cortazzo stated.

The property overlooks Escondido Seashore.

Mike Helfrich

The guesthouse is outfitted with recording tools and a grand piano, Mr. Cortazzo stated. On one of many partitions hangs a promotional poster for the “Beatles ’65” album, that includes members of the band posing with umbrellas. Mr. Petty was a longtime Beatles fan and teamed up with George Harrison within the folks and country-rock supergroup Touring Wilburys, together with Bob Dylan, Jeff Lynne and Roy Orbison.

The Malibu market has commanded document sums over the previous 12 months, pushed partially by low stock, brokers stated. A current report by brokerage Douglas Elliman exhibits that the median value for a Malibu single-family residence elevated to $4.775 million within the third quarter of 2022, a 37% enhance from the identical interval final 12 months.

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