Karlie Kloss and husband Josh Kushner have purchased the iconic "Wave House" in Malibu for $29.5 million, adding to their already impressive portfolio. 

Designed by architect Harry Gesner in 1957, the six-bedroom, eight-bathroom home spans across 6,400 square feet of living space.

The Malibu staple, which was once owned by Rod Stewart in the 1980s, was originally listed for an asking price of $49.5 million in June 2023, the Wall Street Journal reported.

Tucked into a secluded cove in Malibu, the home "commands majestic views of the ocean waves, distant islands and surrounding landscape," according to the listing.

The oceanfront property features bleached hardwood floors, vaulted ceilings, a fireside conversation pit, a beachfront primary suite equipped with a hot tub and sauna, and a trio of circular wraparound decks. 

The glass walls also allow for stunning ocean views throughout the home. 

Additionally, the home features an "expansive, landscaped entry patio, plus wide, semicircular decks for dining, entertaining, lounging, and sea and stargazing," the listing states. 

Of the home's unique shape, Gesner told Architectural Digest in 2008 that his inspiration stemmed from the ocean waves. 

"I paddled out in front of the site and designed it with a grease pencil on the deck of my surfboard," he said.

According to the outlet, the designer created the look by bending laminated-wood beams and six-inch-thick wood sheathing, then covered the wood in hand-cut copper shingles, which he said "look like scales on a fish."

According to Wall Street Journal, the couple already own a $21.5 million mansion in Miami and a $35 million penthouse in New York City. 

Shortly after tying the knot with Kushner in 2018, Kloss listed her quaint townhome in the West Village for $2.75 million. In 2021, the couple welcomed their first child together.