Anne Hearst, the granddaughter of famed publisher William Randolph Hearst, and novelist Jay McInerney scooped up a Malibu house on Colony Beach.
The couple paid $10.7 million for the home at 23350 Malibu Colony Road, according to the Los Angeles Times. The sale was about 10 percent below asking.
The 90-year-old two-story house has four bedrooms and four bathrooms and totals 2,520 square feet.
The property hit the market this summer for the first time in 40 years, with a $12 million price tag. The rear of the home opens to a patio and a deck overlooking the beach and the Pacific Ocean.
Malibu Colony Beach is one of the most expensive housing markets in L.A. County, and once was the priciest place to buy a home in the county.
Casino mogul and conservative activist Sheldon Adelson owns eight properties in the neighborhood.
Last year, a Hamptons mansion that Hearst and McInerney owned — his books include “Bright Lights, Big City” — burned in a fire caused by a chimney problem. It was unclear how much was damaged. [LAT] — Dennis Lynch