Another day, another $100M listing in Malibu

Property from Scott Gillen’s “The Case” portfolio hits the market

Scott Gillen has listed his Malibu spec mansion for $100 million.
Scott Gillen has listed his Malibu spec mansion for $100 million.

In Malibu luxury real estate, $100 million is the new $50 million.

Scott Gillen, a developer who this summer decided to put a portfolio of trophy Malibu homes up for sale asking a collective $500 million, is starting to officially put the homes on the market. One of them, dubbed “Case No. 2,” is now asking $100 million, or about $9,300 per square foot.

The five-bedroom, 5.5-bath mansion spans just over 10,700 square feet and boasts a 132-foot-long infinity pool, according to a Tuesday release from Gillen’s in-house firm, Unvarnished. It is set over three acres of land overlooking “The Queen’s Necklace,” the famed stretch of coastline.

In 2017, Gillen closed on the purchase of a 24-acre flat plateau of land on the Bluffs for $50 million – the highest sale price for an undeveloped piece of land in Malibu. “It’s a gross amount of money,” he told The Real Deal at the time, “[but] it’s the most spectacular views that anybody has ever seen.” The parcel would become home to, in his words, “five fucking spectacular mid-century modern homes.”

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Gillen is marketing the properties in-house, through Unvarnished’s new brokerage division. Side, the venture capital-backed brokerage led by Guy Gal, will handle Unvarnished’s back-office functions.

“I never sit still and have always pushed myself to innovate and evolve so it is a natural progression to directly sell the homes I build,” he said in a statement Tuesday.

Nine-figure home listings are not as rare as they used to be. Late last month, Metro Networks founder David Saperstein put his Paradise Cove estate in Malibu on the market for $115 million. A recent flurry of trophy sales in that price range have emboldened sellers.