Steve Hilton sells LA home at discount

From TRD LA: Philanthropist and hotel heir Steve Hilton found a buyer for his three-story home in the gated Malibu Cove Colony for $8 million, the Los Angeles Times reported. He first listed the home in July 2016 for $10.4 million.

The glass-clad estate has four bedrooms, three-and-a-half bathrooms, a custom saltwater aquarium, an office/den and tiled hot tub. Ocean views surround the 3,390-square-foot property, renovated in 2010 by architect Jay Vanos.

Hilton purchased the home in 2007 for $7.1 million from late actor Robert Ridgeley, property records show.

Kate Pritchett-Skene of Pritchett-Rapf & Associates and Chris Cortazzo of Coldwell Banker had the listing. Andrew Stern, also with Coldwell Banker, represented the buyer. Ironically, his own brother Rick Hilton — cofounder of luxe brokerage Hilton & Hyland — did not have the listing.

The philanthropist, grandson of the late hotelier Conrad Hilton, joined the Conrad N. Hilton foundation in 1983. During his time with the charity, he oversaw its worldwide humanitarian work, serving as both chief executive and president before entering retirement in 2015. [LAT] – Natalie Hoberman