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The Real Deal Los Angeles

Late media mogul Jerry Perenchio’s 70 acres of undeveloped Malibu land hit the market

This marks the first time any of the properties have been listed for sale in 30 years
November 02, 2017 12:00PM

The Broad Beach parcel and Jerry Perenchio (Credit: Getty Images, The Agency)

Just a few months after their former estate broke records as the most expensive listing in the nation, at $350 million, the Perenchio family has more to offer.

A portfolio of 70 acres of land spread across eight commercial and residentially zoned parcels in Malibu belonging to the late media tycoon Jerrold Perenchio is now on the market for the first time in 30 years, Bloomberg reported. Although listed without a price, brokers expect the expansive lots to fetch $150 million.

In just one transaction, a buyer could acquire an 18-acre Point Dume parcel, 10 acres in Sycamore Village and a four-home parcel in the celebrity-filled Broad Beach, among other undeveloped plots of land. Much of the land will have to face (tough) local approval to develop, however.

Mark Sullivan of Savills Studley and Mauricio Umansky of the Agency have the listing.

Perenchio, who died in May at the age of 86, was the former chairman and chief executive of Univision. Throughout his career as a Hollywood powerhouse, he collected prime real estate around Los Angeles, and even acquired a local development company, Malibu Bay Co. in the late 1980s. His former home, known as “Chartwell,” in Bel Air is listed $350 million. [Bloomberg]Natalie Hoberman