Aug
09
2011
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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
Oct
13
2010
The Malibu Real Estate blog first reported about the Daly house several months ago here. The home sold last week for what may turn out to be the highest sales price of a Malibu home for all of 2010. It came on the market at $57m and was reduced $10m a short time later. The Malibu beach house, located on Carbon Beach, is rumored to have sold for more than $40,000,000 ! More info at the WSJ here.
Numerous other sales might surprise you too! A house in the Colony closed for above $20m and another above $18m. The high end is he most active portion of the Malibu Real Estate market right now!
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For seriously straight talk about actually buying a home and living in Malibu, call me on my cell at 310 699 8428 anytime 7am to 10pm.
Apr
01
2010
Carbon Beach, aka billionaires beach, has given us one more reason to believe it’s name. A new $57,000,000 listing came on the Malibu real estate market this week. This is not your average beach house! This Malibu home for sale is on a triple lot on Carbon beach and has almost 13,000 sq.ft. with 180 feet of frontage. The home is exceptionally done in a Cape Cod style and boasts Continue Reading »
Mar
01
2009
March is the month when summer beach rentals and leases come on the Malibu Real Estate market. If you haven’t secured your beach rental by the middle of May you are likely to find yourself building sand castles in Mojave. I predict this year lease prices will be slightly lower than last years but the premium beaches like Broad Beach, The Colony, Carbon Beach, and Malibu Road, will still command high prices. Summer Rental prices on the low end will be around $10,000 and top at at $100,000 or more for the best beach houses. E-mail Me if you’d like a list of available rentals sent to you. You can also click here. Click this link to be taken to an MLS search for all beach leases in Malibu.The user id is x55032 and the password is lease
Jan
26
2009
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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Click this link to be taken to an MLS search for all beach houses in Malibu.The user id is x55032 and the password is beach
Listed with Ellen Francisco/ Coldwell Banker
Jul
12
2008
Maybe Carbon Beach should change it’s name to Diamond Beach? A $65,000,000 beach home has become Malibu real estate’s most expensive beach listing. Here is the description…
THE “CROWN” OF CARBON BEACH. THE ULTIMATE BEACH ESTATE ON 150′ OF BEACH-FRONT. THIS HOME HAS IT ALL – THEATER, PANELED OFFICE, MASTER W/ HIS & HERS, GYM, FAMILY ROOM, PUB, 75′ BEACH-FRONT POOL & SPA. IF YOU ARE LOOKING FOR THE FINEST HOME ON THE PREMIER BEACH IN MALIBU, THIS IS WHAT YOU HAVE BEEN WAITING FOR. ALL CLIENTS MUST BE PREQUALIFIED AND APPROVED BY SELLER. NEED 24-HOUR NOTICE TO SHOW.
Can’t afford $65,000,000? Call me for info on the “lower tier”, $20,000,000-$40,000,000 unlisted homes on other beaches. 310 699 8428
The Crown is listed with Stephen Shapiro/WEA
Mar
07
2008
A house on La Costa Beach goes up for sale in Nov. for $17,500,000. The house offers numerous bedrooms on 81 feet of frontage and is an original 1964 beach house in good shape. The house sells 42 days later for $11,300,000! Keep in mind that two blocks up the coast is Carbon Beach where 81 feet of frontage will run almost $20,000,000. Either the listing was drastically overpriced to begin with or someone stepped to the plate and swung with the greatest low ball offer in history.
The rule of thumb in this market is don’t be afraid to write a low offer. You do not know if the sellers must move or just are thinking about it.
To get a low offer accepted you MUST have an agent that is willing do a few things. First, the agent needs to present the offer in person. Faxes are easy to reject. An agent standing in your living room who says that he has buyers that are well qualified and are ready to close speaks volumes. Next, show the owners sale prices that are considerably lower than the original asking price. Lastly, show them the average days on market and let them think about sitting on that adjustable rate mortgage for the next 192 days. One last thing. If your original offer is rejected. Let the clients have a few days to think about the offer. 3 or 4 days later, send a Rejection Of Offer Letter and ask them to sign it making it official that they don’t want to counter. They’ll think twice before signing the rejection letter and may reconsider the offer, especially if that phone hasn’t rang in a few days.
If a buyer can knock $6m off a beach house in Malibu it should give you hope going after that vintage craftsman bungalow in Venice that’s asking $1.9m but you can only afford $1.5m. Heck! Print this out and and use it as ammo to get that deal done!
Mar
04
2008
Over the weekend, several blogs and newspapers were reporting that Nancy Daly Riordan sold her home on Carbon Beach for a price in the vicinity of $62 million dollars. This would be a record sale for Malibu shattering last year’s record sale of Johnny Carson’s home on Point Dume at $35 million. The Real Estalker is reporting that the deal may have fallen through and the original Canadian buyers, may possibly be Russian. The 12,785 sq.ft. house sits on a triple lot on “Billionaires Beach”, aka Carbon Beach, in the heart of Malibu. It may have been in escrow, but even with high end transactions, you might as well translate the word “escrow” to mean “a big maybe.”Even if the deal fails to happen, you can bet everyone else on the beach will assume their beach houses just became worth $10,000,000 more overnight. The very fact that someone even thought of paying that amount sent the smell of money into the salt air and along PCH. I imagine several conversations like this occurred last week. House seller to agent, ”Yeah……how much did the business manager say to list our house for?”Agent ”$17,000,000″Seller “Well, let’s raise it to $27,000,000.” Agent (while calculating the commission) “Good idea! Sign the fax and I’ll make the changes.”
Feb
22
2008
No, you can’t buy a home, condo, or trailer but you will get a one-month lease on a prestigious beach with neighbors who are on the paparazzi hit list. Yes, spring in near and Malibu Mega Beach House leases are just about to go up on the auction block for the who’s who to fight over.March Madness in Malibu has nothing to do with sports and more to do with people scrambling to secure the best beach leases.
“Players,” not on the ball, who don’t secure a lease early may be forced to “slum it” on lesser “$50k per month” beaches where your neighbor’s private 4th of July firework show may only last a paltry 30 minutes instead of an hour and the caviar might be California paddlefish not Russian Sevruga. Life’s tough ain’t it?
I predict that this year will have more demand than any previous year and we’ll see numerous listings above $100k per month. There currently 5 listings between $80k and $90k per month located in the Malibu Colony and on Malibu Road and most will require a three-month minimum and a hefty deposit. Previous years saw 4 homes break the $100k per month mark with one topping out at $120k on Broad Beach.
Even celebrities are cashing in on the rental action. There are reports that
Cindy Crawford and Rande Gerber recently put their own house up for lease at $35k per month. The property is fairly priced considering that just a few miles to the south is Broad Beach where rents run $50-$120k per month.
Click Here to do a search for Malibu Summer Beach Leases
enter x55032 for ID and Malibu for password
Feb
21
2008
Click here for current blog entry.
If you thought Malibu real estate prices were sky high how about a 18000 Sq. Ft. town house on the Upper East Side for $64 million! The pricey abode has 30 rooms, 15 bedrooms, 17 bathrooms, 17-foot ceilings, and a rooftop garden with grand views. If it sells it will break the previous record high sales price set by the sale of the $53 million dollar Harkness Mansion on East 75th Street. Malibu’s highest price listing comes in at $75 million. The recent sale of a Carbon Beach home in the $55 million dollar range sets a new beach-side sales record.There are two large projects being built now that could turn in to Malibu’s first $100 million dollar listings if the gilded age continues. New York real estate companies are claiming that they haven’t seen this kind of sales frenzy since the dot-com days of 2000. The number of apartments the sold above $10 million have more than tripled since 2006. What could this mean for Malibu? Well my guess is that if you can afford a Manhattan condo for $10 million, then a Malibu Road beach house for the same price might be pretty tempting, especially during a 70 degree California “winter”.
