The real estate market’s collective jaw dropped when Gary Winnick’s Bel-Air estate Casa Encantada went on the market for $250 million, placing it in the running for the most expensive listing in America. But Los Angeles saw another listing debut which ranks among the market’s top five priciest homes.
25168 Case Court in Malibu made a debut on the market June 21 at $95 million.
Nicknamed The Butterfly House, the 10,000-square-foot house is based on more than 3 acres. For price, it ranks behind homes currently listed such as 33550 Pacific Coast Highway in Malibu, which has an asking price of $195 million. Also, there’s 869 Tione Road in Bel-Air, which has an ask of $185 million, and 594 South Mapleton Drive in Holmby Hills, which has been listed for $155 million since January.
The Butterfly House is listed by Stephen Shapiro and Kurt Rappaport of Westside Estate Agency. It is the latest home to come on the market as part of The Case, a luxe project of five custom homes helmed by developer Scott Gillen.
The Butterfly House currently ranks as the priciest of The Case mansions. On June 14, the Cantilever House, located at 24185 Case Court, was placed on the market for about $70 million. It’s listed by Tyrone McKillen and Tal Alexander of Official.
Its neighbor, The Flat house, located at 24188 Case Court, has been listed under contract for $60 million since September 2022. The listing agent was Sandro Dazzan of The Agency. The Flat House was purchased before construction finished. The deal will close when the house gets a certificate of occupancy, Dazzan said.
Butterfly House won’t hold the distinction of being priciest listing at The Case for long. The Glass Tunnel house is scheduled to make a debut on the market in the near future. At around 6 acres, Glass Tunnel has about double the acreage of The Butterfly House. At 12,500 square-feet, it has more living space, Gillen said.
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Gillen said the L.A. market will witness more sky-high prices at the high end of luxury because of a lack of inventory.
“It used to be $100 million was a price that was unheard of,” he said.