Less than three weeks after Tom Petty’s Malibu beach house was put on the market for $9.85 million, the late singer’s estate has reportedly accepted an offer on the property.
Although it’s unclear whether the purchaser offered to buy the home at the estate’s asking price, odds are the Petty family made a tidy profit on the sale. Petty paid just $6.8 million for the 3-bedroom estate when he bought it in 2010, property records reveal.
His widow, Dana Petty, says her husband wrote a number of songs there, including “Good Things Coming” and “Beautiful Blue”.
“Tommy loved that the beach house was pretty much all original, built in 1950, with a cabin feel,” Dana Petty said in a statement. “We spent a lot of time there with friends and family…Tommy always had his recorder and guitar, as he was always writing and creating. I remember him writing so many songs there.
The 2,200-square-foot property, which is located on Escondido Beach, features an oceanfront view from every room in the house, a fireplace, a private deck and a recording studio that’s housed in a separate structure.