Kiehl’s heiress slashes price on 25-acre Malibu ranch by half to $25M

Cut was prompted when approvals for an addition took longer than expected

Los Angeles /
Nov.November 01, 2018 10:13 AM
Pacific Coast Highway home, Jami Morse Heidegger (Credit: MLS/Getty Images)

The heiress to a cosmetics fortune and her husband have more than halved their asking price for their Malibu equestrian ranch, after permitting for a major addition took longer than expected.

Kiehl’s heiress Jamie Morse Heidegger and Klaus Heidegger are now asking $25 million for the 25-acre property, down from the $55 million they listed the spread for last summer, according to the Wall Street Journal. At the time, the couple thought they would complete construction of an 11,000-square-foot expansion to the main house there before a buyer came along, but it hasn’t yet wrapped.

Listing agent Sally Forster Jones of Compass said the new price reflects that “they’re serious about selling the property.”

Along with the four-bedroom main house, there are three guest houses on the property, along with stables — with “ocean views for each horse,” according to a listing — and a lounge area for equestrians. The main house includes a koi pond, swimming pool, and tennis court.

The couple picked up the property for just $2.6 million in 2002 because both their daughters were interested in horseback riding. Jamie Morse Heidegger had recently sold her grandfather’s brand to L’Oreal for around $100 to $150 million. At the time, she was president of Kiehl’s.

They added the guest houses and an irrigation system. They grow avocados, plums, figs, and other fruits and vegetables on the property. The couple launched their own skincare line called Retrouvé in 2014 and source some ingredients, including avocado oil from their own plants.

The couple is now getting older and want to travel more, according to the Journal. [WSJ] – Dennis Lynch 


Related Articles

arrow_forward_ios
23826 Malibu Road (Redfin)
Luxe test case as Malibu listing returns to market with 21 percent hike
Luxe test case as Malibu listing returns to market with 21 percent hike
Kanye West, Kim Kardashian and an aerial of the property (Getty, Google Maps)
Kim Kardashian pays extra for Hidden Hills home abutting her, Kanye’s properties
Kim Kardashian pays extra for Hidden Hills home abutting her, Kanye’s properties
Sam Nazarian with 385 Copa de Oro Rd (Westside Estate Agency, Kevin Scanlon, iStock, Illustration by Shea Monahan for The Real Deal)
Sam Nazarian puts Bel-Air manse on market
Sam Nazarian puts Bel-Air manse on market
Tammy Hughes Gustavson and 27628 Pacific Coast Highway (LinkedIn, Coldwell Banker Realty)
Self-storage billionaire lists Malibu estate in Paradise Cove
Self-storage billionaire lists Malibu estate in Paradise Cove
Engelbert Humperdinck in Jayne Mansfield’s famous “Pink Palace” in Holmby Hills back in the day. (Getty)
Engelbert Humperdinck seeks $6.2M for Bel Air mansion — but it needs work
Engelbert Humperdinck seeks $6.2M for Bel Air mansion — but it needs work
From left: Bob Hope, Dolores Hope and Ron Burkle in front of 10346 Moorpark Street in Toluca Lake (Getty Images, Zillow, iStock)
Ron Burkle lists Bob Hope’s former estate in Toluca Lake
Ron Burkle lists Bob Hope’s former estate in Toluca Lake
From left: Adam Levine and Behati Prinsloo in front of 1700 San Remo Drive in Pacific Palisades (Getty Images, Redfin, iStock)
Adam Levine, Behati Prinsloo sell Pacific Palisades estate for $51M
Adam Levine, Behati Prinsloo sell Pacific Palisades estate for $51M
The Zero One project with Scott Morris (Marisol Malibu, Scott Morris)
’Net zero’ goes luxe in Malibu on $23M sale
’Net zero’ goes luxe in Malibu on $23M sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...