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Opportunities to buy a home on an acre of land on Malibu‘s exclusive Point Dume are few and far between. But we’ve found a new listing that hits all the right notes. It’s the first time in nearly 40 years that the estate owned by Grammy-winning jazz guitarist and producer Lee Ritenour is up for sale.
The 65-year-old musician, who has recorded with greats such as Steely Dan, Dizzy Gillespie, Herbie Hancock, Dave Grusin, and Chick Corea, paid $470,000 for the property almost four decades ago, according to public records. The list price is now $8 million.
But don’t get your hopes up—even if you have $8 million to spend, Ritenour is somewhat ambivalent about selling his beloved property.
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“We’ve listed it for lease ($18,750 per month), and that’s our main intention. But along with the lease, we’ve also included a sale price,” says Ritenour. A potential sale “brings very mixed feelings for us, and most likely we won’t do that, unless a very special person or family came along that we felt was the right fit.”
And when you learn the home’s backstory, you’ll understand his hesitance to part with the place where so many great life and career events took place.
“I grew up in Los Angeles (Palos Verdes), and when I was a teenager I drove up to Point Dume to play guitar for somebody’s party. I was so impressed with the area, that I said, ‘Someday, I want to have a house here!’ That finally happened in ’79, when I purchased the home. It was a new wood craftsman’s house that architect Bill Mack built. In the ’80s, I moved my full-on recording studio to the house and did many projects there.”
The home also holds precious family memories for Ritenour.
“Carmen Elisa Madlener dos Santos and I were married at the Chapel at Malibu’s Pepperdine University, and we had the party at the house. That was in 1990. Right after that, we began several renovations. The house was completely rebuilt in 1996 and designed by the world-renowned architect Mark Mack [no relation to Bill Mack].”
The renovation, which increased the square footage to 6,500, included work inside and outside the home.
“All the windows were flown in from Austria and had the European style. The house is full of incredible light, and almost all the doors open to the gardens and patios. The one-acre property was fully landscaped and designed by the incredible landscape architect Mia Lehrer.”
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The results proved positive: “After the house and garden were completed, it was the Garden of the Year in Home and Gardens,” says Ritenour.
Carmen, who is Brazilian, worked closely with Mia, who is from Argentina, to give the gardens, pool, and spa area a distinct South American design. The house has mountain and ocean views, and looks across most of Point Dume.
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“Our son, Wesley, who’s a drummer and absolutely loves Malibu and our house here, grew up playing the drums in the house with me jamming with him. Wesley is now a professional musician and travels quite often with me.”
The family’s travels are the main reason the house was rented out in the past and is available for lease now.
“Carmen is doing a lot of work in Brazil, producing visual arts and music projects. I’m traveling more than ever, upward of 200 shows a year, and for these reasons we leased the house out for the last few years. Meanwhile, when things slow down, the Ritenours will most likely be back in Point Dume jamming away again,” says the guitar great.
It’s easy to see why the musician is reluctant to part with his four-bedroom, five-bathroom home with its lushly landscaped grounds, pool, and outdoor fireplace. The booming Malibu market and thoughtful remodeling have ensured he can turn a pretty profit, but his family’s memories here are priceless.
Malibu specialist Chris Cortazzo of Coldwell Banker Residential Brokerage Malibu West has the listing.
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The post Jazz Guitarist Lee Ritenour Is Selling His Magnificent $8M Malibu Home appeared first on Real Estate News & Advice | realtor.com®.
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