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record home sale in Malibu

Record $110,000,000 Home Sale in Malibu

Malibu’s famous Billionaire’s Beach set a new home sale record with a $110 Million deal – currently the most expensive home sale ever in Los Angeles County.

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New Record on Billionaire’s Beach

Owned by hotel magnate Peter Morton, the sale surpassed the previous county record of $100 million, which occurred twice in the Holmby Hills area in 2016, (the Playboy Mansion was one of them.)  Peter Morton purchased two properties in separate transactions years earlier and hired architect Richard Meier to design the new home.

The property is located on a half-acre on Pacific Coast Highway and comprised two structures with over 100 feet of ocean frontage. The compound features a main house and guest house, which combine to offer seven bedrooms, nine bathrooms, and approximately 8000 square feet of living space.  Brandon & Rayni Williams, Hilton & Hyland, represented Peter Morton in the sale.

Los Angeles home prices are reaching all-time highs, and the number of $1 million dollar homes has quadrupled since 2002.

However, the rising home prices aren’t scaring off buyers. Even celebrities are buying up new properties, like Ben Affleck’s $20M bachelor pad.

They’re expected to continue to climb as the strong job market and tight inventory continue to drive the prices to new highs.

Just the other day, Southland’s 6 Counties—Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura—just hit all-time high median home prices.

Here’s a list of homes that have sold over $20 million in Malibu since 2007:

MALIBU – 10-Year CLOSED SALES | $20M+ | Single-Family Residence

AddressBedBathSqFtListClose$/SqFtDate
11846 Ellice Street, Malibu 902657119636$22,900,000 $20,000,000 $2,075.55 7/11/2017
33360 PCH, Malibu 90265444636$22,500,000 $20,000,000 $4,314.06 9/22/2017
23916 Malibu Road, Malibu 90265343640$14,995,000 $20,000,000 $5,494.51 8/6/2014
7377 Birdview Ave, Malibu 902657610180$27,000,000 $21,000,000 $2,062.87 4/9/2012
27960 PCH, Malibu 90265446445$24,950,000 $21,000,000 $3,258.34 9/18/2015
23808 Malibu Road, Malibu 90265665000$23,950,000 $21,475,000 $4,295.00 9/29/2010
22144 PCH, Malibu 9026534n/a$25,000,000 $21,975,000 n/a4/28/2008
30460 Morning View, Malibu 9026551210270$24,950,000 $23,000,000 $2,239.53 9/3/2014
29208 Cliffside Drive, Malibu 90265787674$25,750,000 $23,000,000 $2,997.13 9/14/2017
24860 PCH, Malibu 902657910000$26,995,000 $24,000,000 $2,400.00 12/8/2017
31250 Broad Beach Road, Malibu 9026561011413$29,995,000 $24,150,950 $2,116.09 3/13/2017
21808 PCH, Malibu 90265699508$29,995,000 $25,000,000 $2,629.36 10/3/2014
7061 Birdview Avenue, Malibu 90265699130$28,995,000 $27,250,000 $2,984.67 9/13/2016
23324 Malibu Colony Road, Malibu 90265566913$29,950,000 $27,250,000 $3,941.85 10/3/2006
22426 PCH, Malibu 9026545n/a$33,500,000 $27,250,272 n/a8/3/2007
29150 Cliffside Drive, Malibu 902657914426$34,500,000 $33,500,000 $2,322.20 8/25/2014
28060 Sea Lane Drive, Malibu 902657911313$45,000,000 $36,500,000 $3,226.38 12/28/2012
22314 PCH, Malibu 9026591310317$40,000,000 $36,943,890 $3,580.88 9/24/2012
22506 PCH, Malibu 9026578n/a$52,000,000 $38,000,000 n/a3/23/2018
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