Jan 26 2009
Price Chops For A Malibu Beach House.$18,000,000 Price Reduction. Ouch!
This is the biggest price drop I’ve seen in the Malibu Real Estate market, ever. Starting out $39,500,000, this ocean front property has been chopped to $21,500,000 in 4 short months. That’s an $18,000,000 chop in 120 days! The home is located just south of the Paradise Cove pier and was recently remodeled.
Here’s the MLS description……
ONE OF MALIBU’S SPECIAL GATED BLUFF & BEACHFRONT COMPOUNDS OVERLOOKING DESIRABLE PARADISE COVE. NEWLY COMPLETED & OFFERING A SEAMLESS TRANSITION BETWEEN INDOOR & OUTDOOR LIVING & ENTERTAINING IN A CASUAL, YET DRAMATICALLY ELEGANT SETTING. PROPERTY FEATURES: A SPECTACULAR MAIN HOME W/ OCEANFRONT INFINITY POOL & SPA, GUEST HOUSES & BEACH PAVILION ON APPROX. 81′ OF SANDY BEACH FRONTAGE. APPROX. 2.4 LANDSCAPED ACRES IN TWO PARCELS, WITH LIMITLESS COASTLINE & OCEAN VISTAS. THERE IS NOTHING LIKE IT!!
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Listed with Ellen Francisco/ Coldwell Banker
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Something’s wrong, your post claims the price is currently at 21.5M as does the Malibu Real Estate blog, yet a peek at the listing agent’s website takes me to the actual property website claiming the price is $24.5M. Someone is gonna be unhappy…..
The current MLS price states $21.5m.