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Eli Broad’s $75M Malibu beach house listing got another price chop
Billionaire put the Richard Meier-designed Carbon Beach property on market just before pandemic took hold
The Los Angeles luxury market looked completely different in late February, when Eli Broad first listed his Malibu beach house for $75 million.
Without a sale, the billionaire slashed the price in July, and has just cut it again, to $62 million, according to the Los Angeles Times.
That’s 17 percent below the original list price.
The developer turned philanthropist paid $5.65 million for the two land parcels in Carbon Beach in the late 1990s, and hired now-disgraced architect Richard Meier to design the modernist abode.
The 5,400-square-foot house was completed in 2002, and spans two stories with five bedrooms and seven bathrooms. The master suite includes a balcony, sauna, and a lounge. Double-height glass windows in the main living room emphasize the views over the Pacific Ocean and the property’s 105 feet of ocean frontage.
The house sits in a raised platform and connects to the beach via a small stairway off the back patio. There’s also a lawn and a guest house on the property.
In February, Broad described the home as a “masterpiece” and “probably the most important house currently for sale on Carbon Beach.”
Hilton & Hyland’s Branden and Rayni Williams initially had the listing, but Westside Estate Agency’s Kurt Rappaport took it over in July. [LAT] — Dennis Lynch