Record deal may be washing away on Malibu’s Billionaire’s Beach.
4 March 2008 · by Mike Gardner Malibu Real Estate Agent 310-699-8428

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.”


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