Update! Thursday April 24, 2014
Just got word from a reliable source that May’s Landing sold for approx. $13.3m!
On Tuesday April 22 the UCLA Board of Reagents open the sealed envelope bids for May’s Landing in San Francisco. The opening bid amount was $9,550,000. Based on my personal showing activity and the number of showings other agents had, I’m guessing no less than 8 people submitted bids. I had four showings to interested parties and I know of another agent who had 8 or more showings to qualified buyer’s investigating the property. I think 30-40 serious buyers viewed the property over that past few months and one lucky buyer just got what I consider the ultimate address.
Feb 10, 2014
May’s Landing is back on the market and this is the one to own.
On Sunday afternoon, I spent an hour and half at May’s Landing on Point Dume to get better familiar with what it would take to build a home on the site. I walked to every corner of the property, carefully observing the views and the neighbors’ homes. I even snuck up to the roof and walked out on a flat portion to see what the view from a second story master bedroom would look like. Simply put…breathtaking. I met with Ryan Levis from Doug Burdge’s office and he explained all the important details that one needs to know to get an idea of what can be done on the site. He went over the geology, setbacks, and even had a rendering of what the new footprint of the approx..7500 sq.ft. home would look like. As I stood on the roof, I started to ponder what a finished home could be worth. “$25m? $30m?” hard to say but I think it could break a record for the street. To further prove the point to myself, I looked out the stretch of coast from about Geoffrey’s to where I was standing and pointed to several homes. “That one sold for $16m, that one $40m, that one $28m and on and on.” It then occurred to me the mile and half I was pointing out was likely the most valuable section of real estate on the West Coast and that the only area more valuable might be in the Hamptons on the East Coast. This section of coastline is where the records continue to be broken and agents find themselves in disbelief when the price finally records.
I have always been a fan of this street, having sold two bluff properties here over the last three years. Cliffside will always be one of the most sought after addresses in all of Malibu and I believe the values will climb faster here than any other street on Point Dume.
In all the years I’ve been selling real estate, I have never seen a building site with such spectacular views and building potential. The way the lot sits facing down the coast gives it one of the best panoramas I’ve ever seen. Most lots on Cliffside face straight out to sea with the views being primarily just blue ocean. Some of the more sought after properties have views of the Point Dume headlands and Big Dume Bay. The lot at May’s Landing looks southeast with about 40% of the view being the entire coastline of Malibu and the remaining 60% being Santa Monica, Palos Verdes and out to Catalina Island.
If you are in the market for what is currently the only “trophy” type building site in Malibu, come have a look before the bids are due on April 22. There is no better site anywhere in Malibu. The best views, the best lot, the best beach, the best surf, the best walks, and the best protection from the wind.
As a favor to my clients, the team from Doug Burdge’s office would be happy to meet any prospective buyers on site for a comprehensive discussion about what can likely be built on the site.
I am in possession of a large PDF site report from Doug’s office detailing the site and would be happy to discuss sharing it with any qualified buyers. Call 310-699-8428 to inquire about the property.
I am also showing an unlisted bluff property for sale on Cliffside for $12m.
Here is a link from UCLA about the donor of the property
A previous post about May’s Landing
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The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Listing courtesy Mark Gruskin / WEA
Tags: May's Landing, point dume homes for sale