Music legend Tom Petty, who will go down in history as one of the best songwriters of our times, passed away in 2017 and, since then, his properties have been slowly coming onto the market. A rustic California lake house he owned sold in 2019 and his Malibu beach house changed hands in 2023, but now arguably his most personal home has a new owner. Also located in Malibu, the verdant compound became Petty’s longtime primary residence after he purchased it in 1998 and it just sold on Halloween for $11.2 million.
Immersed in thick trees, plus boasting amenities like a pool, tennis court, and guest house-turned-music studio, the gated 2.6-acre spread is an inviting and lavish oasis. In fact, it first sought $19 million in 2024 but received quite a few price cuts, last listing for roughly $15.5 million this July. The Wall Street Journal reports that author Stephen Slade Tien is the buyer who nabbed it for discount.
Touring the property, you can just imagine Petty at ease in the Mediterranean-style main house with vaulted ceilings, Moroccan tiles, and wood elements or strumming a guitar on one of the brick patios complemented by fountains and pergolas. Besides the main home and music studio, which is still completely wired for recording, there’s a one-bedroom cottage for guests to enjoy privately as well as features like solar panels for sustainability, an expansive motor court for large parties, and koi ponds and fruit trees to constantly encourage tranquility.
Myra Nourmand and Levi Freeman of Nourmand & Associates represented the property on the market, while Michael Telega and Or Brodsky of Compass repped the buyer.
