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Retired NBA star Kevin Garnett has decided to step away from his massive Malibu project. He’s listed the 7-acre property, including an unfinished 11,000-square-foot mansion, for $19.9 million.
It’s a rare offering in this beach community of multimillionaires, where land near the beach—and the permits to develop it—are increasingly hard to come by.
The property is on a gentle hillside above the Pacific Coast Highway and has unobstructed vistas of the ocean.
Plans for the contemporary mansion devote the entire second story to a master suite, but a new owner could easily customize the space since the home is still under construction.
Kevin Garnett’s unfinished mansion
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Malibu property with beach views
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Malibu mansion under construction
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Among the most attractive aspects of this sale is that all the plans and permits have been approved by the Coastal Commission, which is notoriously finicky.
“This is a once-in-a-lifetime opportunity—7 acres consisting of three parcels, mostly flat, with existing, permitted construction,” says listing agent Eric Hassan of Hilton & Hyland.
Two adjacent parcels are also available for purchase, Hassan adds. If bought together, there’s potential to develop a nearly 20-acre estate.
Two properties bordering Garnett’s land are also available.
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Garnett bought the property over a decade ago. He and wife Brandi Padilla, and their two daughters, lived there, in an 8,500-square-foot home, for a few years. Then they decided to rebuild and expand their home.
Aerial view
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But life got in the way of their Malibu mansion plans. Garnett retired as a player in 2016, and became a basketball commentator and host on TNT. He also became a consultant for the Los Angeles Clippers.
In July, Padilla filed for divorce. In September, the Boston Globe reported that Garnett filed a lawsuit against an accountant and his firm, alleging that they helped a wealth manager steal $77 million from him.
Garnett, now 41, is among the most talented players to ever set foot on the hardwood. He played 21 seasons in the NBA for the Minnesota Timberwolves, Boston Celtics, and Brooklyn Nets. He earned an Olympic gold with Team USA in 2000 and won an NBA championship with the Celtics in 2008.
The post Kevin Garnett Opts Out of Massive Malibu Project Before Final Buzzer Sounds appeared first on Real Estate News & Insights | realtor.com®.
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