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The Real Deal Los Angeles

Cindy Crawford chops price of Malibu home to $50M

The property has been on the market since 2016
October 06, 2017 04:00PM

Property on Pacific Coast Highway, with Rande Gerber and Cindy Crawford (MLS/Getty)

Not even power-couple Cindy Crawford and Rande Gerber could find buyer for their oceanfront digs when the pricetag was $60 million.

The duo cut $10 million from the original ask on their renovated estate in Malibu’s Encinal Bluffs neighborhood after nearly a year on the market, the Los Angeles Times reported. It is now listed at $50 million.

Built in 1944, the 5,300-square-foot home has four bedrooms, five-and-a-half bathrooms and a media room. A tennis court, fire pit, open-air pavilion and swimming pool can be found outside on the property’s 3.2 acres.

Property on Pacific Coast Highway (MLS)

The couple paid $50.5 million for the home and the parcel next door in February 2015, property records show. Together, the two make up 5.9 acres.

Christopher Cortazzo of Coldwell Banker and Kurt Rappaport of Westside Estate Agency hold the listing.

Crawford and Gerber recently purchased OneRepublic frontman Ryan Tedder’s home flip in Beverly Hills for $7.5 million. The two teamed up with George Clooney and Mike Meldman to create Casamigos tequila, which recently sold in a deal reportedly worth $1 billion. [LAT] – Natalie Hoberman