The co-founder of premier denim brand 7 For All Mankind has slashed $5 million off the price of his Malibu pad.
Peter Koral, who sold the brand to VF Corp. for in 2007 for $775 million, relisted the 4,974-square-foot home this week for $19.9 million, or $4,019 a square foot. That’s down from its original $25 million asking price.
The Cape Cod-style house on Broad Beach Road features six bedrooms, seven bathrooms and a family room that opens out to an infinity pool and spa. The property has about 60 feet of ocean frontage with ocean views from almost every room.
Koral purchased the unfinished home in 2008 for $13 million and put his own finishing touches on it, according to the Wall Street Journal. He listed it for $25 million in 2015, but later dropped the price by $1 million when it didn’t move.
The house was finally taken off the market in December 2016.