Chris Cortazzo sells his own Malibu investment property for $10M

Compass luxury broker acquired 5.5K-sf home in 2017

Chris Cortazzo and the property (Credit: Google Maps)
Chris Cortazzo and the property (Credit: Google Maps)

Compass’ Chris Cortazzo brokered the sale of another Malibu investment property on behalf of one of his most prolific and reliable clients — himself.

Cortazzo sold the home at 5721 Bonsall Drive for $9.9 million, property records show. The agent bought the 5,500-square-foot home in 2017. The sale penciled out to $1,800 a foot.

Cortazzo paid $9.2 million for the home. Built in 1989, the home has five bedrooms and five bathrooms, and was marketed as a “half-timbered English country-style estate.”

The seller was not identified and messages left with Cortazzo and buy side agent Alexander Pureval, also of Compass, were not returned.

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Cortazzo’s sale comes less than a month after he unloaded his 55,000-square-foot oceanfront plot on Cliffside Drive in Malibu for $39 million last week. Cortazzo acquired that property in 2016 for $17 million and tore down a single-family home on the site.

According to PropertyShark, Cortazzo has registered 10 properties in L.A. County under the “Christopher Cortazzo Trust,” eight of which he has sold. Two properties that Cortazzo is still listed as owning are on Cliffside Drive in Malibu.

He ranked first by sales volume on The Real Deal’s list of top Los Angeles County residential agents this year. The list looked strictly at on-market deals. Last year, Cortazzo ranked second on TRD’s list. That calculated deals that did not appear on the Multiple Listing Service.

Other high-end L.A. County brokers, including Kurt Rappaport — who was the top broker by sales volume last year when including off-market deals — also own pricey land in markets in whic they operate.