Designer Saffron Case Sells Carbon Beach Remodel for $29M

Interior designer and developer Saffron Case and her husband Timothy unloaded a 4,000-square-foot home on Malibu’s Carbon Beach for about $29 million earlier this month. They purchased the home for about $22 million in 2021.

Nicknamed Saltair by Saffron Case, the home at 22160 Pacific Coast Highway might be the last ultraluxe Malibu transaction of 2023. While the exclusive oceanside town made international headlines with the $200 million deal for Jay-Z and Beyoncé’s estate located seven miles away at 27712 Pacific Coast Highway, the overall market declined this year in Malibu, as it did across the rest of the Los Angeles region.

There were 38 deals for homes $10 million and up in Malibu in 2023. It’s a 43 percent drop compared to 2022 when 67 ultraluxe homes traded, according to research from brokerage Amalfi Estates.

“Compared to 2022 sales data, Malibu had less of a transaction drop,” said Anthony Marguleas, Amalfi Estates founder. “But it’s still significant, at almost a 50 percent drop. The Hollywood actors and writers strikes greatly influenced this year’s sales decline. Many people were not purchasing properties in Malibu and other neighborhoods favored by actors, writers and directors. With the strikes ending and a projected interest rates drop for next year, I’m optimistic there will be an increase in $10 million-plus transactions in 2024.”

For 22160 Pacific Coast Highway, the seller was represented by Mike Cunningham of Pinnacle Estate Properties. The buyer was represented by Kurt Rappaport of Westside Estates Agency. Rappaport declined to identify the buyer.

The purchase price works out to $7,060 per square foot.

Saltair entered the market in February at about $40 million. It went through a couple of price cuts and the last ask before it was sold was $30 million.

The home was featured on websites for glossy magazines such as Architectural Digest and Robb Report. Located on Carbon Beach, which hosts residents such as Larry Ellison, David Geffen and Dr. Dre, Saltair features 60 feet of ocean frontage. Case’s remodel of the home included glass walls with views of the ocean and coast, as well as blond oak floors. The home also offered dedicated surfboard storage, a barbecue, a fire pit and an outdoor shower, according to media reports.