Denim kingpin relists Malibu home at $5M discount

Broad Beach Road home (MLS)
Broad Beach Road home (MLS)

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.

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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.