One of the most famous beach houses in Malibu, California – the iconic Wave House – has been on the market for a month now.

The architectural masterpiece was designed in the 1950s by visionary Harry Gesner and has since changed hands three times.

Its last owner was Mo Ostin – the decades-long head of Warner Brothers Records and a prolific art collector who died last year.

His heirs are now selling the famous beach house with 6 bedrooms and incredible views for the… amazing price of 50 million dollars, 49.5 to be exact.

Architectural legend says that while Gesner was conceiving the idea for the residence, he camped out on the site for several days observing the ebb and flow of the waves. He is said to have made the plans for the house by marking it on his sailboard with a glass pencil. He envisioned the Wave House extending into the waves, becoming one with the water in the flood, and having roof lines that jut out like breaking waves.

Along with the Wave House, the neighboring Sandcastle House – a small house that Gesner also designed and lived in with his family – is being sold for $27.5 million.

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The son of famous architect Zen Gesner, he remembers that in the 1970s, they had musician Rod Stewart as a neighbor, who then bought the Wave House.

The British rocker was an “awesome neighbor” who often danced on the unrailed porches and was the one who eventually added the railings.

Sandcastle House came on the market after Harry Gesner’s death last year, aged 95, and Zen Gesner hopes the same person will buy both houses.