Cindy Crawford chops price of Malibu home to $50M

The property has been on the market since 2016

Oct.October 06, 2017 04:00 PM
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

Related Article

The five priciest listings in L.A. County last week

Here are the 5 priciest residential listings in LA County last week

From left: Kristen Dunst and her former home on Toluca Lake Road, and Roy E. Disney and the home in Toluca Lake (Credit: Getty Images and Redfin)

This week in celeb real estate: Kirsten Dunst makes lightning sale in Toluca Lake, home owned by Disney heir trades again…and more

Home at Stratford Circle with Hungarian couple Ildiko Szekeres and Gyorgy Nagy (Credit: Getty Images)

Olympic curlers score Bel Air Crest mansion that lingered on the market for 4 years

Skid Row Housing Trust CEO Lee Ragas

Prolific DTLA affordable housing developer pushes into Van Nuys

Roy E. Disney and the home in Toluca Lake

That Disney magic? Toluca Lake home that belonged to a Disney heir sells over asking

Celebrity real estate sales: Ellen DeGeneres, Jonah Hill

This week in celeb real estate: Ellen DeGeneres flips for Santa Barbara and Jonah Hill settles down in Santa Monica…and more

From top: Ellen DeGeneres and Portia de Rossi, Jan Koum and Ron Meyer, and Pierce Brosnan with his new home in Santa Monica (Credit: Getty Images)

This week in celeb real estate: Ellen DeGeneres sells in Beverly Hills and Whatsapp founder buys $100M Malibu mansion…and more

Pierce Brosnan and his new home in Santa Monica

“The world is not enough,” but for one former James Bond this Santa Monica pad is