Karlie Kloss and Joshua Kushner Acquire Iconic Malibu 'Wave House' for $29.5M

The mid-century modern home, designed by Harry Gesner, faces significant environmental challenges.

The 'Wave House' was purchased at a significant discount from its original $49.5 million listing price.
Designed in 1957, the house is known for its unique wave-like architecture and historical significance.
The property is located in a high-risk area for both wildfires and flooding, posing preservation challenges.
Previous owners include Rod Stewart and Warner Bros. Records executive Mo Ostin.
Kloss and Kushner own additional properties in New York City and Miami.