Socialite Alex von Furstenberg, a hedge-fund manager and denizen of New York’s party scene, has sold his 3,359-square-foot beachfront house in Malibu, Calif. for $1.9 million, according to public records. In a Big Time Listings exclusive, we can report that von Furstenberg has left Malibu behind him. Von Furstenberg, the son of the well-known fashion designer Diane von Furstenberg, now works as the chief investment officer for the family office of media executive Barry Diller and his mother, which is an investment group known as Arrow Partners. Although he had spent his life on Manhattan’s Upper East Side, von Furstenberg relocated to California in 2005 with his girlfriend, fashion designer Ali Kay. Von Furstenberg paid $2.85 million for the 3,359-square-foot house at 32802 Pacific Coast Highway, which was built in 1986, according to public records. The four-bedroom house has four baths and sits on a 0.69-acre oceanfront parcel. Now, von Furstenberg has pulled up stakes and, according to public records, sold the beachfront house at a loss. There is no explanation available for why von Furstenberg sold the house at such a discount, and details about the house are few and far between, since the house was not listed on the MLS. In real-estate-related news unrelated to his recent sale in Malibu, Von Furstenberg also made the news last year for being part of a consortium of socialites, media figures and financiers who together bought a 2,000-acre spread in the Dominican Republic. Von Furstenberg was joined in that venture by Newsweek International editor Fareed Zakaria and rocker Moby.