Supermodel Karlie Kloss and her husband Joshua Kushner have purchased the iconic 'Wave House' in Malibu for $29.5 million, significantly lower than its original asking price of $49.5 million. This marks the first time the property has changed hands in over 30 years, previously owned by music executive Mo Ostin and rock star Rod Stewart. Designed by architect Harry Gesner in the early 1960s, the house features mid-century modern architecture with a design inspired by cresting waves, offering six bedrooms and eight bathrooms. The home, perched on stilts above the beach, provides stunning ocean views and has been a retreat for notable figures in the entertainment industry. Kloss and Kushner's new residence is a notable addition to their family, as they are also raising two children. The Wave House's unique design and coastal location have made it a celebrated property along the Malibu coastline.