Malibu is renowned for its beautiful beaches and mountain views. It’s also known for its hyper-wealthy residents and their mega mansions that turn heads.
Even the most modest of Malibu homes cause a ripple in luxury real estate news. Consider the sale this year of a Malibu mobile home for $5.3 million. While it’s not a mega mansion, it certainly is nearly priced like one.
The past three years, high-end sales of mega mansions included everything from a Russian billionaire’s purchase that set a Malibu record, to a $60 million transaction between two entertainment industry leaders. And rumors of music mogul David Geffen’s 5-parcel compound being available for a hot $100 million may set another record soon.
Here’s a quick transactional history of mega mansions that made waves in Malibu luxury real estate:
In 2013, a Russian couple paid $75 million in cash to buy billionaire investor Howard Marks’ 9.5 acre mega mansion. The Pacific Coast Highway property includes a 20,000-square-foot house with eight bedrooms and 14 bathrooms, two guesthouses, a separate gym, tennis courts and a swimming pool. The all-cash deal was off-market, with a reported original asking price of $125 million. Marks, chairman of Oaktree Capital, and his wife, Nancy, paid $31 million for the property in 2002, when he bought it from the estate of late Herbalife founder Mark Hughes.
Fast forward to 2015: Making headlines in luxury real estate sales, mega-producer Marcy Carsey sold her beachfront mega mansion for $60 million to Interscope Geffen A&M Chair Jimmy Iovine. This was an off-market sale. The 2,500 square foot home is set on 90 acres of private beach. The compound includes two guest houses, a beachside cottage, pool, and tennis court.
Also last year, a Malibu Encinal Bluffs compound sold for $50.5 million. The off-market transaction involved blind trusts on both sides. Details are few, but the sale included a four bedroom main home and two guest cottages on six acres of land. A tennis court and swimming pool are on the grounds.
Politicians like their mega mansions too. Last year politician and investment banker Jack Ryan sold his Malibu compound for $44 million. An undisclosed limited liability company bought the property. The 3-acre Malibu estate sits on a bluff, and features a traditional-style main home and a pool house. However, the 12 bedroom and 12 bathroom, 13,000 square foot home is anything but traditional. The estate also includes two cottages on the beach below the bluff.
Going back in time a bit, in 2012, Oracle CEO Larry Ellison was one of the biggest buyers of mega mansions in Malibu. Ellison added two more properties to his holdings along Carbon Beach that year. He bought former Yahoo CEO Terry Semel’s estate for $36.9 million and Jerry Bruckheimer’s home for an undisclosed amount.
Ellison now owns about a dozen properties in the area known as Billionaire’s Beach, including famed Japanese restaurant Nobu, and a property he’s developing into a botanical gardens and art museum. Other famous residents of Billionaire’s Beach include entertainment mogul David Geffen and former Dodgers CEO Jamie McCourt.
In the Market for a Malibu Mansion?
If you want to move into your own mansion in the neighborhood, there are currently plenty of mega offerings in Malibu.
There are 18 Malibu mega mansions for sale at $10,000 and higher. These are Malibu properties that are “on-market.”
The highest priced: a 7 bedroom, 8 bathroom Carbon Beach Malibu estate listed at $57,500,000. It is described as one of the “deepest properties on Carbon” Beach, with 137 feet of beach frontage.
And for off-market, or pocket listings: Malibu music producer David Geffen’s Carbon Beach mega compound is apparently still up for grabs at $100 million. Showings are limited to prescreened buyers. Geffen’s compound, composed of 5 parcels, has all the luxury amenities suitable for entertainment industry types— screening room, pool, spa, expansive lawns — and is “fortified” against potential intruders.
For more information on Malibu real estate for sale or Malibu Beachfront homes contact Russell Grether at 310-994-4247 or send a message.