Malibu Estate in Point Dume Sells for $32M

A Los Angeles litigation attorney found a buyer for his Malibu estate, trading it for $31.7 million.

The 7,269-square-foot Point Dume home at 28823 Cliffside Drive is yet another ultra-luxury deal for Malibu in what is shaping up as a red-hot year for the beach town.

Property records show the seller was Brian Strange, founder of complex litigation firm Strange LLP. The buyer is an LLC tied to a New York-based accounting firm specializing in services for high-net-worth clients.

Compass’ Chris Cortazzo had the listing, while Compass’ Lily Harfouche represented the buyer.

Records on Zillow show the property hit the market in May, with a $35 million asking price.

The six-bedroom, five-bath home built in 1957 was recently renovated, according to listing sites. The gated property on more than 1.5 acres includes a guest house, guest suite over the garage, room for six cars, a path to the beach and surfboard shack.

The Cliffside sale marks another sizable deal for Malibu, which has hosted ultra-luxury deals of all shapes and sizes this year.

Last month a spec mansion above Billionaire’s Beach sold for $32 million. There was also developer Scott Gillen’s sale of the Malibu home he built, called The Edge, for $61 million.

Among the more eyebrow-raising deals in the city was Steve Jobs’ widow Laurene Powell Jobs’ $94 million purchase of her fourth Malibu property. There was also the reported sale of Oakley and Red Digital Cinema Camera founder Jim Jannard’s estate for $210 million — the state record for a residential price — to an unknown buyer.

Most recently, Westside Estate Agency co-founder Kurt Rappaport told Bloomberg he’s getting ready to release a $300 million private listing. The property, if sold anywhere near its ask, would take the crown as the state’s highest-priced deal.