Owner of Barry Manilow’s former Malibu home ready to take chance again at sale

A Malibu oceanfront estate once owned by Grammy-winning singer Barry Manilow is back on the market, and with another price cut.

The seller of the 4,320-square-foot property is selling the home for $10.9 million, nearly $6 million — or about 35 percent — less than what it originally listed for three years ago. It was most recently on the market for nearly $12 million last June.

Property records reveal the home is tied to Natalie Mogilny, who filed for separation from retired National Hockey League star Alexander Mogilny in 2012. Manilow, famous for hits like “Copacabana” and “Looks Like We Made It,” owned the home from 2002 to 2012, when he sold it for $5.5 million.

Located on Malibu Road near the glitzy Malibu Colony, the three-story home includes five bedrooms and five bathrooms. In addition to ocean views, there’s also a fish tank, double-height ceilings, smart home automation and a media room. The Los Angeles Times first reported the listing.

The most recent owners completed an extensive renovation of the 1976-built property, according to marketing materials.

David Solomon, Sandro Dazzan and Anna Solomon of The Agency have the listing.

Despite the softening luxury residential market, sellers in Malibu are still listing homes at top dollar. Last week, a spec home developer put on the market a new 13,000-square-foot mansion in the neighborhood for $50 million. The 17-acre property includes a five-bedroom home, fully furnished, as well as a membership to the nearby La Costa Beach and Tennis Club.