Berkshire Hathaway CEO Warren Buffett has sold his ocean-view, six-bedroom house in Laguna Beach for $7.47 million.
The 3,588-square-foot house in guard-gated Emerald Bay took a steep price cut recently. Buffett slashed $3.1 million off it in August 2018, bringing the asking price down to $7.9 million. The home was listed in February 2017 at $11 million.
Buffett, 88, still came out fine. He’s owned the house since 1971, when he paid $150,000 for it.
The Emerald Bay house, which Buffett and his family used for vacations, was expected to be torn down. But Bill Dolby of Villa Real Estate, who listed the property, said the buyers intend to keep the home instead of rebuilding.
The family that bought the residence is from Laguna Beach, though not Emerald Bay, Dolby said. The buyers, who have not been identified, were represented by Shiva Ommi of Ommi & Associates.
See a slideshow of the house at…