Palisades Sees Priciest Listing in Hillside Home for $54M

Los Angeles spec developer Guy Grimberg knows his views.

“I’ve been building for 25 years. This particular property, the view, the angle is unlike anything else,” Grimberg said of his recently completed 766 Paseo Miramar in the Pacific Palisades.

The hillside property, which is owned and developed by Grimberg’s GME Development, entered the market last week with a $54 million asking price to make it the Palisades’ most expensive on-market listing, according to records with Zillow.

Within Los Angeles County, the priciest on-market listing remains 607 Siena Way in Beverly Hills. The $177 million asking price is for a 35,000-square-foot home with eight beds and 25 baths.

Palisades Sees Priciest Listing in Hillside Home for $54M — 766 Paseo Miramar in the Pacific Palisades (Jarrel Cudjoe)

The Agency’s Santiago Arana and Rodeo Realty’s Jimmy Heckenberg hold the listing for 766 Paseo Miramar.

Grimberg bought the property in 2022 for $4.6 million and then built anew, completing the structure of the current estate before January’s Palisades fire broke out. On Jan. 7, the day the fire erupted, all of the home’s interior finishes from Milan were stuck in a container at the San Pedro Bay ports.

Grimberg couldn’t get the imported goods into the home, which remained untouched from the fire. About two weeks ago, crews were able to complete the interior installations.

Grimberg estimated the asking price could very well be an additional $10 million or more if the fires hadn’t occurred.

“When we finished the property and sat there on the first level, you see the panoramic views and we said, ‘How do you give it a price?’” Grimberg said.

Big views come with the property as windows look out onto the San Gabriel Mountains, downtown and the ocean.

The home comes in at more than 18,000 square feet with seven bedrooms and 11 bathrooms. It sits atop a 47,000-square-foot lot.

Architect Tom Leishman designed the property with the interior handled by Michael Palumbo. Inside the furnished estate are custom, Milan-imported finishes. Other highlights include a chef’s kitchen, a wellness center with a cold plunge and sauna, a more than 2,500-square-foot primary bedroom, a wine cellar, a rooftop deck and a 90-foot pool.

When asked if GME might take on another Palisades project as homeowners look to sell their vacant lots, Grimberg didn’t rule out the idea if he stumbled upon the right location.

“My forte is really unique hillside buildings. My bread-and-butter [development] for many years has been 4,000, 5,000, 8,000 square feet,” Grimberg said. “Now, what I’m looking for is complex hillside drilling and excavating.”