Malibu Land Sale Breaks Record
A recent Malibu land sale has gone down in the books for breaking a record. A developer purchased a 24 acre parcel of land in an area known as the Bluffs for $50 million, justifiable to the developer who sees this as a spectacular piece of Malibu property offered unparalleled views of the Pacific Ocean. Another important piece of this real estate puzzle is the fact that the property is located in one of the area’s most sought-after and exclusive neighborhood, the Malibu Colony.
This spectacular property will be turned into Malibu homes for sale. These luxury homes will, of course, be expensive in their own right. This sub-community in the Colony will be known as the Case and is expected to be comprised of 5 homes. These homes may sell for as little as $40 million or perhaps as high as $60 million. Market demands will undoubtedly dictate the sales price when they are completed roughly 3 years from now.
Want to learn more about luxury homes for sale in Malibu CA? Contact me, Judy Kunisaki, today. I welcome the opportunity to update you on current market conditions while helping you get to know the area. Malibu is known for being home to a slew of celebrities. Whether you are a celebrity or simply want to live like one let my knowledge and experience serve as your guide. This Malibu land sale was a large one and indicative of just how unique our area is.
Click here to read ““It’s a gross amount of money”: Scott Gillen closes on record $50M land purchase” from The Real Deal.