The property asset involved in this transaction is a single-family home located at 23826 Malibu Road in the Malibu market. It has an area of 4,500 square feet and sits on 0.34 acres. The sale price for the property was $22,500,000, which equates to a price per square foot of $5,000.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $22,500,000
• Address: 23826 Malibu Road
• Market: Malibu
• Square Footage: 4,500
• Price per Square Foot: $5,000
• Buyer: Kurt Rappaport
• Seller: Juliana Terian - Rallye Motors Group
• Buyer's Representative: Kurt Rappaport - Westside Estate Agency
• Seller's Representatives: Cooper Mount - Carolwood Estates; Joyce Rey - Coldwell Banker

Kurt Rappaport, who is recognized as a prominent real estate agent in Los Angeles, acquired the Malibu beach home from Juliana Terian, the CEO of Rallye Motors Group. Rappaport plans to remodel the five-bedroom residence as he expands his property portfolio in Los Angeles. The seller was represented in the transaction by brokers Cooper Mount and Joyce Rey.