Investors Mark Cirlin and Man Li-Yeh have parted with a Malibu estate for $38.45 million, marking the priciest home sale in Los Angeles County so far this year.
The property, at 33740 Pacific Coast Highway, is a Cape Cod-style house that has spent time on and off the market since 2017. It was originally listed for $57.5 million, according to Zillow. The oceanfront Malibu site once contained the home of Marta Kauffman, co-creator of TV show “Friends,” and her husband, composer Michael Skloff.
Steven Schaefer and Jay Luchs of Newmark Residential and Gabi Sharron of Compass represented the buyer, while Chris Cortazzo of Compass represented the seller.
Cirlin and Man bought the property for $10.7 million in 2007 and tore down Kauffman and Skloff’s home.
What came out of the rebuilding process was a 4,400-square-foot estate designed by architect Doug Burdge. The property sits on 1.7 acres of “resort-style grounds” that contains an open-air pavilion with a fireplace, an al fresco kitchen with a pizza oven and a sunken lounge area.
Between the two-story main house and a guesthouse, the property has a total of six bedrooms and seven-and-a-half bathrooms, according to a previous report from the L.A. Times. Last year, the home was offered for rent at $275,000 per month, according to Zillow.
The deal ranks as the most expensive home sale in Los Angeles County so far this year, according to property records and Zillow. The Malibu sale displaces two $36 million transactions from the top of the rankings. Last month, Lola Karimova-Tillyaeva, the daughter of former Uzbekistan President Islam Karimov, and her husband Timur Tillyaev sold Le Palais, a Mohamed Hadid-developed Beverly Hills mansion.
The other $36 million transaction involved the estate of screenwriter Rudolph Borchert, who wrote for TV shows such as “Rockford Files” and “CHiPs.” The property in that deal was 28856 Cliffside Drive, a 3,300-square-foot mansion in Malibu.