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Just when you think status properties in Malibu reached the tiptop of the market, along comes a new estate that raises the bar.
Slated for completion in April, a jaw-dropping estate built on the site of the iconic Malibu Castle is priced at $80 million. It is “the highest price ever for an estate in the coveted beach community,” according to listing brokerage Coldwell Banker Previews International.
It’s a location with a storied background. Other than the pier, the former Malibu Castle was the town’s most prominent man-made landmark. Folks could gaze up the hills from Malibu’s town center and see the towers, turrets, and flags. The parties on the property were also epic—until a devastating fire burned the place to the ground in 2007.
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The 3.5-acre site had little more than charred gargoyles among the ashes for several years when developer/designer/architect Scott Gillen became involved.
After the fire, the land was listed for $17 million, but after more than a year of negotiations, Gillen’s offer of $9.7 million was accepted by the previous owner, philanthropist and “princess” Lilly Lawrence. Sandro Dazzan of Coldwell Banker represented Gillen in the purchase of the property, and is handling the sale of the finished product.
Acquiring the site and maximizing its potential was a dream come true for Gillen.
“It’s like no other property in Malibu,” he says. It’s situated on a promontory with sweeping views of Santa Monica Bay, Catalina Island, Malibu Colony, and Surfrider Beach.
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A one-of-a-kind site deserves a one-of-a-kind home, says Gillen. “I tripled my original building budget and went all in. The house has been complicated to build.”
He adds, “It’s the nicest house I’ve built to date.” His company, Unvarnished, has developed and built 22 premium properties generating over $130 million in sales.
This compound on a hill contains two large structures. The 10,500-square-foot main residence has five bedrooms and six bathrooms. It features a 120-foot-long great room with ocean views. A custom teak dining table parallels the 75-foot-long infinity pool.
There’s also a custom black walnut soaker tub in the master suite, a game room, a humidor, and a media room which opens to the pool where a waterfall cascades down a full story to the home’s lower level. Finishes include custom teak doors and cabinetry, as well as 80-year-old, dry-aged oak floors.
Luxe amenities include custom furnishings by Minotti and Bottega Veneta, handmade rugs from New Zealand, and rare art by Ellsworth Kelly and Jonathan Burofsky.
A fully stocked wine room comes with a special tasting by a vintner, And as the ultimate luxury amenity, one year of concierge service is included in the purchase price. The service will ensure the residence is fully stocked to your culinary tastes and even make reservations at nearby Nobu.
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There’s a detached 4,000-square-foot guesthouse, which features a great room, kitchen, gym, spa, two bedrooms, and four bathrooms. Both structures have floor-to-ceiling walls of glass to take in the spectacular views.
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The entire house can be operated remotely from a mobile device. When you decide to go out, the entire house can be locked up and shut down with the touch of a button. But who are we kidding? With a place like this, you may never want to leave. Simply see to it that the concierge service delivers whatever your heart desires.
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The post $80M Malibu Castle Rises From the Ashes and Sets Pricing Record appeared first on Real Estate News & Advice | realtor.com®.
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