Ukrainian tycoon lists Malibu mansion for nearly twice what he paid

The home, which features the largest permitted spa in Malibu, last sold for $25M

TRD LOS ANGELES /
Aug.August 19, 2019 10:00 AM
Vadim Shulman and his house on Pacific Coast Highway (Credit: World Jewish Congress, Zillow)
Vadim Shulman and his house on Pacific Coast Highway (Credit: World Jewish Congress, Zillow)

A compound in Malibu’s “Billionaire’s Beach” has hit the market, and despite the recent slowdown in Los Angeles luxury sales, its price is nearly twice what it sold for five years ago.

The oceanfront home is owned by Ukrainian tycoon Vadim Shulman, who is asking $44 million for the six-bedroom, 10-bathroom property, records show. Shulman heads the Euro-Asian Jewish Congress, and has a business portfolio that includes mining, energy and telecommunications.

Shulman paid $25 million to acquire the pad in 2014, deed records show.

Shulman’s 9,500-square-foot home on the Pacific Coast Highway in an area nicknamed Billionaires Beach spans half an acre, and includes 150 feet of beachfront. It has a wine cellar, movie theater and four fireplaces.

It includes a two-lane lap pool and Malibu’s largest home spa ever permitted, according to listing materials on Redfin.

Rita Benelian of Keller Williams has the listing.

The listings adds to the number of luxury properties that are for sale in the glitzy Malibu area. Earlier this month, developer Scott Gillen put a collection of 13 homes — some still under construction — on the market for a combined $500 million. The most expensive is a $100 million home in his “Case” project, a guard-gated community of five homes.


Related Articles

arrow_forward_ios
Scott Gillen Lists Malibu Spec Mansion For $100 million

Another day, another $100M listing in Malibu

Michelle Pfeiffer and David E. Kelley purchase $22.5M Pacific Palisades home (Credit: Compass and Getty Images)

Michelle Pfeiffer, David E. Kelley buy Pacific Palisades pad for $23M

Billionaire David Saperstein lists Malibu home (Credit: Alfred Yson/Sotheby's International Realty via The Wall Street Journal)

Metro Networks founder Saperstein lists Malibu home for $115M

Shaun White is selling his Malibu properties.

Shaun White is freeriding out of Malibu

Actor Charlie Sheen and his mansion at 14003 Aubrey Road in Mulholland Estates (Credit: Getty Images and Realtor.com via LAT)

Charlie Sheen takes a loss on Mulholland Estates party pad

Michelle Pfeiffer, Jim Crane and the home (Credit: Getty Images and Zillow)

Move over Ellen: Michelle Pfeiffer is latest celeb RE player

Mohamed Hadid and the mansion (Credit: Getty Images, iStock, and Mega via TMZ)

Judge puts Hadid’s Bel Air mansion on demolition fast-track

Hadid and the home (Credit: Getty Images)

Hadid: I must continue building Bel Air mansion to satisfy creditors

arrow_forward_ios
Loading...