Malibu home sells for $177 million, setting new California record

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Malibu home sells for $177 million, setting new California record
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Fashion mogul Serge Azria has sold an oceanfront estate in Malibu, Calif., for $177 million.

, who purchased the Warner Estate from media mogul David Geffen for $165 million last year, reported The Wall Street Journal.

BEVERLY HILLS, CA - NOVEMBER 03: Florence Azria and fashion designer Serge Azria attend Friends Of The Israel Defense Forces Western Region Gala at The Beverly Hilton Hotel on November 3, 2016 in Beverly Hills, California. The main house is roughly 10,000 square feet, he said, and the property has a cinema, a spa and two guesthouses.

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