The property involved in this transaction is a 3.25-acre vacant lot located at 3903 Carbon Canyon Road in Malibu. The asset was formerly owned by David Foster and Yolanda Hadid, with the sale price set at $6,500,000. This transaction marks the highest-priced land deal in Malibu since the Palisades Fire, illustrating ongoing demand for redevelopment opportunities in the area.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $6,500,000
• Address: 3903 Carbon Canyon Road
• Market: Malibu
• Acres: 3.25
• Brokers: Daniel Milstein & Aaron Kirman - Aaron Kirman Group - Christie's International Real Estate

This sale showcases a resilient market for luxury redevelopment in Malibu, with buyers recognizing the potential for future development despite existing wildfire risks. The brokers representing the sellers in this transaction were Daniel Milstein and Aaron Kirman from the Aaron Kirman Group at Christie's International Real Estate.