Aug 09 2011
Malibu Real Estate Auction On Carbon Beach
With the recent financial turmoil in the markets I’m not even sure you can call it “Billionaire’s Beach” anymore. It’s back to Millionaire’s Beach this week. With all the news it’s even more fitting that one of the most expensive sections of Malibu real estate in the world just now has a beach house being sold at public auction. What!? Did he just say auction on Carbon Beach. Yes, and it was once listed for $65m and has an opening bid of $22m!
Let’s start with a little bit of history about what makes Carbon Beach so valuable. A few years back when the market was exploding, neighbors were buying each other out creating double and triple lots with frontages up to 200 feet. The seller would be enticed with a large enough sum that they could just go buy a house on Malibu Road or Broad Beach and still have a few million left over. That gave rise to the super estates where Hollywood moguls and tech tycoons set up camp. The beach is also especially desirable because of its dry sand, the fact that it’s much closer to town, and that it has a good anchorage for Russian mega yachts and you-know-who’s pretty “little” sailboat.
Now let’s talk about this Malibu home for sale being sold at auction. It was once on the market for $65m bucks when it was kind of ok to ask for crazy numbers because you just never knew who might show up and buy it. That was a long time ago!
The low down….Nice house officially on Carbon Beach but not in the best location. It’s located on the east end by the traffic light where the beach hits a point that is not passable at high tide and tends to have less dry sand than the rest of Carbon. However being on this point does give it a unique vantage point looking down towards Santa Monica Bay. The home is a traditional Cape Cod and about as nice as you’re going to see anywhere in Malibu. It has all the bells and whistles you’d expect from a home at this price. At roughly $2000 a sq.ft. it is well priced compared to some of the larger transactions that have taken place on Carbon. Two recent transactions on Malibu Road went out at $2500 sq.ft. and $2000 sq.ft for homes on much smaller lots.
Call for more details or any questions about Malibu real estate 310 699 8428
From the MLS…..
“THE GRANDEST OF THE GRAND …AN ABSOLUTE BEAUTY ON MALIBU’S BILLIONAIRE BEACH, HOME TO WORLD FAMOUS CELEBRITIES AND MOGULS . NEWLY CONST. (2005) ON ABOUT .54 ACRES (APPX 150 FT OF SANDY CARBON BEACH FRONTAGE), THIS SUNNY, VOLUMINOUS ESTATE SITS W/IN THE FIRST 3 MI OF MALIBU’S 27 MI LONG STRETCH OF CALIF COAST – A SHORT DISTANCE FROM W. LA, LAX AND BEVERLY HILLS. STUNNING AND ARTFULLY CRAFTED IN EVERY WAY, THE EXTRAORDINARY DETAILS INCLUDE : 75FT TWO LANE LAP POOL AND SPA (MALIBU’S LARGEST EVER PERMITTED), GREEN GRASSY SIDE YARD , 90 FT* OCEANFRONT GREAT ROOM AND 40 FT* OCEANFRONT KITCHEN/FAMILY ROOM (BOTH OPEN TO THE 4500SF* OCEANFRONT DECK W/ OUTDOOR KITCHEN). THE APPROX 10,500SF OF LIVING SPACE INCLUDES 4 FIREPLACES, EXQUISITE LIBRARY W/ HUGE AQUARIUM, OCEANFRONT GYM AND OFFICE, A PROFESSIONAL’S THEATER, 5 BEDROOMS EN SUITE PLUS THE ENORMOUS OCEANFRONT MASTER STE. WITH DUAL BATHS & 2 HUGE DRESSING ROOMS. LIST PRICE IS OPENING BID” |
listed with Carol Bird WEA agency
