Cosmetics entrepreneur flips Malibu pad for $24M

Morphe co-founder Chris Tawil sold home for 25% more than he paid a year ago

Los Angeles /
Jan.January 29, 2021 11:00 AM
Morphe co-founder Chris Tawil and the Malibu beach house. (Photos via Getty; Hilton & Hyland)
Morphe co-founder Chris Tawil and the Malibu beach house. (Photos via Getty; Hilton & Hyland)

In January 2020, cosmetics entrepreneur Chris Tawil paid $18.5 million in cash for actor Jason Statham’s Malibu beach house.

And in January 2021, Tawil sold the home for $23.5 million, according to Dirt.com. The buyers were billionaire hedge funder Stanley Druckenmiller and his wife, Fiona, according to the report.

Jason Statham
Jason Statham (Wikipedia Commons)

That’s a very successful house flip for the co-founder of Morphe cosmetics, but in a red-hot Malibu market, it’s hardly surprising.

The home at 23330 Malibu Colony Road has four bedrooms, four bathrooms and totals 3,900 square feet, according to the Hilton & Hyland listing. Statham had renovated and expanded the property before selling it.

Malibu was probably the most popular luxury housing market in Los Angeles last year, as celebrities and other wealthy buyers sought to escape confining Covid restrictions for the secluded oceanside sanctuary. That sales activity continued through the fourth quarter and into the new year.

The median sales price in Malibu in Q4 was 71 percent higher year-over-year, and 30 percent higher from the third quarter. Nearly a third more homes traded hands in the fourth quarter than in 2019, while inventory fell 16 percent.

Some big names have bought and sold in Malibu recently. Matthew Perry sold his beach house for $13 million this month, while Gal Gadot bought one in December. Chris Martin and Dakota Johnson also picked up a home in Point Dume in October.

[Dirt] — Dennis Lynch 


Related Articles

arrow_forward_ios
Prediction: California housing market will cool in 2022
Prediction: California housing market will cool in 2022
Prediction: California housing market will cool in 2022
Distressed debt firm buys $25M loan on Garden House condo in Beverly Hills
Serenity now? Distressed debt firm buys loan on troubled luxury condo complex
Serenity now? Distressed debt firm buys loan on troubled luxury condo complex
Pink lists Malibu pad months after buying it
Pink lists Malibu pad months after buying it
Pink lists Malibu pad months after buying it
King Abdullah II bin Al-Hussein of Jordan and his 3 Malibu properties at  29140 Cliffside Drive, 29150 Cliffside Drive, 29208 Cliffside Drive (Getty, Redfin, Realtor)
These are King Abdullah’s secret Malibu properties
These are King Abdullah’s secret Malibu properties
September year-over-year LA signed contracts fall hard: report
LA signed contracts fall for 2nd straight month
LA signed contracts fall for 2nd straight month
(Unsplash via Philippe Gauthier)
LA’s homebuying frenzy boosts number of $1M homes
LA’s homebuying frenzy boosts number of $1M homes
Southern California’s housing market undoubtedly cooling (Getty)
SoCal home sale prices inch down…but they’re still high
SoCal home sale prices inch down…but they’re still high
Kanye West and 24844 Malibu Road (Getty, Compass/Facebook)
Album drop then price chop: Kanye pays $57M for Malibu beach house
Album drop then price chop: Kanye pays $57M for Malibu beach house
arrow_forward_ios

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

Loading...