With in-person showings back, Malibu home hits market at $75M

Tadao Ando-designed concrete and steel home among first to allow tours after mayor revises “Safer at Home” order

Los Angeles /
May.May 01, 2020 04:08 PM
Japanese architect Tadao Ando and the home (Credit: AZUHIRO NOGI/AFP via Getty Images)
Architect Tadao Ando and the Malibu home (Credit: ROGER DAVIES and AZUHIRO NOGI/AFP via Getty Images)

This week’s easing of rules to allow in-person showings has catapulted an oceanfront Malibu home back on the market, with a $75 million price tag.

The 4,000-square foot home at 24844 Malibu Road went on the Multiple Listings Service Thursday, following state and county orders to allow showings of vacant property by private appointment.

It also comes three days after Los Angeles Mayor Eric Garcetti revised his “Safer at Home” order to allow property appointments if there are no more than two visitors at a time, though the order has not yet been fully adopted by L.A. County.

For the most part, showings have been relegated to virtual tours to contain the spread of the coronavirus.

The listing marks the first time since 2003 that the four-bedroom, three-bath home has hit the MLS.

Made of concrete and steel and designed by Japanese architect Tadao Ando, it was built in 2013 by New York City financial investor, art collector and philatelist Richard B. Sachs. The home is owned under Wave One LLC, records show.

Branden Williams of Hilton & Hyland and Tyrone McKillen of Compass share the listing.

“We were planning on listing the property in February,” Williams said. “We had something on the table, but it didn’t work. Then Covid hit a month later.” The team decided to list the home “before there was a rush of properties” hitting the market, he said.

Physical tours are clearly permissible for the Malibu home, McKillen noted, because the home is vacant. “The owner lives on the East Coast,” McKillen said. A listing on Redfin notes that in-person and virtual tours are available.

Still, Williams said he was excited about the return of physical showing. “I’ve never been a virtual guy. That’s not how I made my business. You need to see the home and see who your neighbor is across the street.”

McKillen compared selling an Ando home to auctioning off a Picasso or other rare work of art, adding that physical showings will give buyers the “full effect of a unique piece of architecture.”

L.A.’s ultra-luxury market has cooled off since Gov. Gavin Newsom issued a stay-at-home order on March 19. Since then, the top sales have gone for $43 million, $37 million, and $20.5 million; all those were empty as well.

Williams said the Malibu home could have extra appeal, with even the uber wealthy limited in their mobility. Newsom on Friday said the state was days away from lifting some coronavirus-related restrictions, according to CNN.

“People aren’t going to be traveling this summer,” Williams said.


Related Articles

arrow_forward_ios
LA County explores turning struggling commercial properties into housing. (Getty)
LA County explores turning struggling commercial properties into housing
LA County explores turning struggling commercial properties into housing
(iStock)
Fry’s Electronics, go-to for high tech pros, closes forever
Fry’s Electronics, go-to for high tech pros, closes forever
Lena Dunham and her North Ogden Drive home (Getty, Compass)
That’s a wrap: Lena Dunham lists Hollywood bungalow
That’s a wrap: Lena Dunham lists Hollywood bungalow
P.K. Subban and Lindsey Vonn with their Beverly Hills home (Getty, Hurwitz James Company)
Winter sport wonders Lindsey Vonn and PK Subban list Beverly Hills home
Winter sport wonders Lindsey Vonn and PK Subban list Beverly Hills home
(iStock)
Southern California housing rush was unabated in January
Southern California housing rush was unabated in January
Robyn Moore bought the Broadbeach Road home after splitting with Mel Gibson. (Getty, Redfin)
Robyn Moore lists Malibu pad bought following divorce from Mel Gibson
Robyn Moore lists Malibu pad bought following divorce from Mel Gibson
Rick Caruso and 21528 Pacific Coast Highway (Getty, The Agency)
Rick Caruso asks $40M for Malibu beach house
Rick Caruso asks $40M for Malibu beach house
California Ripped Fitness (Google Maps)
Maxed out: Gym closes after racking up $1M in Covid fines
Maxed out: Gym closes after racking up $1M in Covid fines
arrow_forward_ios

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

Loading...