Famous Malibu Wave House Hits the Market for $49.5 Million

An iconic Malibu, Calif., home designed to look like cresting waves is coming on the market for $49.5 million.

Wave House was designed in the 1950s by the late architect Harry Gesner, who famously sketched plans for the home while on his surfboard, after paddling out to the surf break in front of the property, according to Zen Gesner, Harry Gesner’s son and one of the listing agents.

The Midcentury Modern home was most recently owned by Mo Ostin, an influential music executive who led Warner Bros. Records for decades. He was tapped by Frank Sinatra to oversee the singer’s Reprise label, which merged with Warner Bros. Records in 1963. He headed the company as it signed acts like Jimi Hendrix, Prince and Madonna. Ostin died in 2022 at age 95 and the property is being sold by his estate, according to his son, Michael Ostin.