With an initial asking price of $75 million last year, the Eli Broad estate has finally found a buyer for the late philanthropist’s iconic Malibu beach house—for $51.65 million.
As we’ve reported over the past few months, the Carbon Beach property saw a number of price reductions to get to this point. The initial asking was first lowered to $67.5 million, then $62 million, and, most recently, $58.5 million in April.
The L.A. Times notes that while the sale marks the most expensive oceanfront deal this year, it’s the second largest of 2021 for Southern California. As we shared last month, Barron Hilton’s Bel-Air mansion recently sold for $61.5 million, claiming the top spot.
Kurt Rappaport of Westside Estate Agency shared the listing with Branden and Rayni Williams of the Beverly Hills Estates. California Listings Malibu expert Chris Cortazzo of Compass represented the buyer, who’s identity remains unknown.