The ‘Wave House,’ Harry Gesner’s Malibu masterpiece, lists for $49.5 million

The “Wave House” — one of the most iconic homes on the California coast — just hit the market for $49.5 million. It’s the first time the architectural gem has surfaced for sale in 36 years.

Deriving its name from the cresting rooflines that mimic the waves pitching on the beach just below, the striking structure was built in 1957 by Harry Gesner, the late architect known for designing one-of-a-kind residences along the coast and the mountains above it.