Malibu Pad’s Sale for $27M Marks City’s Priciest in 2025

A Cape Cod-style home in Malibu Colony sold this month for $26.8 million, making it the priciest on-market residential deal so far this year in the ritzy coastal city.

The six-bed, five-bath home at 23736 Malibu Colony Road hit the market in March last year for $38.5 million, according to listing sites. Its most recent asking price was $32.5 million before its May 2 closing, according to the Multiple Listing Service.

A Delaware limited liability company called Nachmi was the seller, according to property records. A filing with the state indicates the LLC is managed by Christian Leone, who is founder and CEO of New York hedge fund Luxor Capital Group.

While the selling price is off from the original ask, Leone still walks away with a large sum after buying the property in 2013 for $17.4 million, according to MLS records.

Compass’ Chris Cortazzo was the listing agent.

The deed on the sale has not yet been recorded, but the mystery buyer was represented by Westside Estate Agency’s Kurt Rappaport and Beverly Hills Estates’ Branden Williams and Rayni Williams.

The two brokerages declined to comment on the buyer.

The gated, oceanfront property sits on nearly half an acre and consists of a main residence and two guest homes. One of the guest buildings includes a living room, full kitchen, bathroom, two bedrooms and patio. The second is a studio with a kitchenette.

The property is part of the Malibu Colony community, which is often referred to as the “original Malibu.” It was developed in the 1920s and became an enclave for celebrities from Hollywood’s Golden Age, including Charlie Chaplin and Mary Pickford.

It’s been a quiet year so far for Malibu after some blockbuster trades last summer in the city that shattered records.

At the top of that list is the off-market sale of Jim Jannard’s former pad at 33064 Pacific Coast Highway for $210 million, which notched a new all-time high for residential deals in the state.

The year’s second-largest deal involved Laurene Powell Jobs, who paid $94 million for 28106 Pacific Coast Highway. Powell Jobs is the widow of Apple co-founder Steve Jobs, and the deal marked her fourth Malibu purchase.

There was also the $61 million trade of 24186 Case Court, named The Edge by spec developer Scott Gillen. The property is part of a boutique community built by Gillen, called The Case, consisting of five estates sitting atop their own bluffs in Malibu.