Malibu luxury home sales aren’t letting off the gas, with last week’s top two homes under contract coming from the beachside city.
At the top of the Eklund Weekly Luxury Report LA’s list is the carbon neutral Zero One estate at 11865 Ellice Street, listed for just under $26 million. The report, from Douglas Elliman’s Eklund Gomes team, reviewed Los Angeles County homes under contract priced at $4 million or more for the seven-day period ended Aug. 25.
Sotheby’s International Realty’s Jacob Dadon has the listing.
Property records show the seller is a trust tied to Miriam Schaeffer. The entity paid $23 million for the home in 2022. Schaeffer is a former executive at nail products brand OPI, which was founded by her ex-husband George Schaeffer and is headquartered in nearby Calabasas.
Zero One, which gets its nickname from its carbon neutral footprint, was built in 2021 and originally hit the market last year with a $32 million ask. A series of price reductions and an option to rent followed.
The home counts six bedrooms and nine bathrooms across 14,429 square feet. It sits on a nearly 2.5-acre lot.
Eco-conscious timber and recycled steel were used in the home’s construction. Highlights include a saltwater pool, fruit orchards, vegetable garden, solar panels and water filtration system.
Earlier this year, the home’s sister development — named Zero Two — traded for $28.5 million to an LLC associated with a Wyoming registered agent. Both properties were developed by Crowne Point, run by Scott Morris.
About 17 miles west of the carbon-neutral properties, the home at 23921 Malibu Road came in as last week’s second-largest home under contract.
The property, with a listing price just under $17 million, was completed last year and is part of the Malibu Colony Estates.
Coldwell Banker Realty’s Jade Mills and Zach Quittman, along with The Beverly Hills Estates’ Alexia Assouline, have the listing.
The seller is an LLC tied to Beverly Hills-based real estate firm Standard Oil Investment Group, according to property records. Standard Oil is a DBA of Prime Management & Development, which is run by Marc Bohbot, according to the company’s website.
The contemporary home sits behind double gates and has six beds and eight baths, spanning 7,334 square feet.
Malibu has hosted a number of stellar luxury sales this year, including Laurene Powell Jobs’ $94 million purchase and Oakley founder Jim Jannard’s sale for $210 — the most expensive home in California history.
Across L.A. County, 18 homes went under contract last week. That equates to a little more than $156 million in volume, according to the Eklund Gomes report. All but one of those properties were single-family homes.
The totals are up from the prior week’s reporting period, which counted 16 signed deals amounting to $122.4 million in volume.
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