Kennedy Wilson CEO lists beachside Malibu home for $55M

William McMorrow’s house features 88 feet of beach frontage on Sea Lane Drive

William McMorrow with 28034 Sea Lane Drive
William McMorrow with 28034 Sea Lane Drive (Zillow, Kennedy Wilson, Getty)

William McMorrow, chairman and CEO at Kennedy Wilson real estate investment trust, recently listed a beachfront house in Malibu for $55 million, according to property records.

McMorrow bought the 4,276-square-foot residence at 28034 Sea Lane Drive for $14.4 million in 2013. The REIT chief is selling the three-bedroom, four-bathroom house for almost $10,000 per square foot. It features three separate outdoor decks which face the Pacific Ocean. Chris Cortazzo of Compass has the listing.

Located in a gated community, the three-level home was built on a lot that stretches out to almost an acre. The house’s eight-figure price tag takes into account the listing’s location and grounds. It has 88 feet of beach frontage. The home is located less than a mile away from Paradise Cove Pier and a short drive away from Point Dume.

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Any beachfront area in Malibu is pricey. Less than one mile away, a mobile home at the address 97 Paradise Cove Road is currently on the market for almost $4 million. However, Malibu seems to be going through an uptick in listings and sales of trophy homes.

Pop star Cher recently listed a Malibu estate for $85 million. Cher’s abode at 25142 Pacific Coast Highway is a four-minute drive from 28034 Sea Lane Drive. Reality TV star and entrepreneur Kim Kardashian paid $70.4 million for Cindy Crawford’s former estate, which is a 10 minute drive away from the Sea Lane Drive house. Media mogul Byron Allen also paid $100 million for a Malibu home earlier in October.

A message to Kennedy Wilson was not returned by presstime. It is unclear why McMorrow is selling the home.

The company has a market capitalization of more than $2.1 billion, according to Yahoo Finance.

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