The “Wave House” – the iconic Malibu beachside home built by the late Harry Gesner – has surfaced on the housing market for the first time in 36 years. 

The home, located on the beach on Pacific Coast Highway, has officially been listed at $49.5 million. 

Its name is derived from the curved rooflines that resemble the waves crashing on the beach below and was built in 1957 by Gesner for his friends Glenn and Gerry Cooper. 

Gesner was known for his unique architectural design that incorporated aspects of nature and the environment, and some of his most prominent works include the Cole House on the Sunset Strip and the Sandcastle, which lies next to the “Wave House” in Western Malibu. 

The famed architect passed away in the Sandcastle in 2022 at the age of 97 due to complications related to cancer. 

Rod Stewart bought the “Wave House” in the 1970s and sold it to Warner Bros. record executive Mo Ostin in 1987. Ostin also passed away last year, and now his family trust is handling the sale, according to LA Times. 

Real estate records show that the “Wave House” boasts six bedrooms and seven bathrooms across a massive 6,208 square feet.

The home also includes a landscaped entryway and courtyard and keeps some of the changes that Ostin made during his stay, such as blue, turquoise, and white paint splashes throughout the interior and the replacement of the original pebble roof with copper shingles.

The “Wave House” was also featured in the 2019 film “Yesterday.”

And while $50 million may seem like a hefty price tag, it pales in comparison to the $200 million paid by Jay-Z and Beyoncé for a 30,000-square-foot home in the Paradise Cove area of Malibu in May.

The $200 million paid by the music superstars set the record for the most expensive home in California history and made it the second most expensive home in the nation, after a $238 million apartment in New York City.