Kurt Rappaport, Michael Fahimian, Jack Harris & Scott Mitchell Acquire Malibu Mansion For $55M

The property involved in this transaction is a single-family residence located at 27832 Pacific Coast Highway in Malibu, CA. It encompasses 2.3 acres and has a total square footage of 8,775. The sale concluded at a price of $55,000,000, equating to a price per square foot of $6,268.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $55,000,000
• Address: 27832 Pacific Coast Highway
• Market: Malibu, CA
• Asset Size: 2.3 Acres
• Square Footage: 8,775
• Price Per Square Foot: $6,268

A joint venture led by Kurt Rappaport of Westside Estate Agency, along with Michael Fahimian and Jack Harris from The Beverly Hills Estates, and architect Scott Mitchell participated in this acquisition. They intend to demolish the existing home and construct a new luxury estate, with a targeted resale price exceeding $200 million. The previous owner of the property was Peter O’Malley, a former owner of the Los Angeles Dodgers.