Malibu Estate Hits Market for $68 Million

A Malibu property holding court above the beach has come back on the market for $68 million to make for one of the city’s priciest listings.

The owner of the home at 32300 Pacific Coast Highway hung up the for-sale sign earlier this month, with the seller looking to handle the trade without agent representation. The last time the property was shopped around for a buyer was in 2022, when it was listed for $65 million. In more recent years, the seller was on the hunt for a renter — and still is. The listing indicates the property could also be leased for $95,000 a month, potentially wooing prospective visitors in town for this summer’s FIFA World Cup.

An inquiry to the seller, who placed the estate on a for-sale-by-owner listing site, was not returned Monday.

Property records indicate the owner is trustee Bart Loethen and Brigadoon Trust, which paid $18.3 million for the compound in 2007.

The property consists of a main house and beach house sitting atop a nearly 3-acre lot. The listing indicates the combined square footage of the residences is 10,438 square feet, which makes the listing price equivalent to $6,515 per square foot.

The main house counts six bedrooms, while the beach house has two beds. In all, there are 10 bathrooms across the two structures. One big highlight is access to El Matador Beach via a private staircase.

The Pacific Coast Highway property is now the third-priciest single-family home on the market in Malibu, according to listing sites. But it doesn’t best the $110 million price tag for Johnny Carson’s former residence at 6962 Wildlife Road, which pencils out to $15,530 per square foot. That property was listed in September by Compass’ Chris Cortazzo.

There’s also Westside Estate Agency’s Kurt Rappaport’s listing at 27832 Pacific Coast Highway, which is priced at $8,490 per square foot, or $74.5 million.

Last year saw the off-market trade of an $80 million home at 28719 Grayfox Street, which topped residential deals in the city for 2025. The market activity was quiet relative to 2024, when Malibu was on a tear with blockbuster residential deals.
At the top of that heap was the state record set by Oakley founder Jim Jannard, who landed $210 million for the sale of 33064 Pacific Coast Highway. Later that same year, Apple co-founder Steve Jobs’ widow Laurene Powell Jobs snapped up her fourth Malibu property at 28106 Pacific Coast Highway for $94 million. Spec developer Scott Gillen also nabbed the first buyer for his ultra-luxe community The Case in Malibu, trading 24186 Case Court for $61 million.