The Malibu mansion of former Los Angeles Dodgers owner Peter O’Malley is back on the market.
The home at 27832 Pacific Coast Highway is for sale for $74.5 million, Mansion Global reported, more than $10 million less than the asking price he sought in spring of last year.
O’Malley pulled the house off the market in February after the deadly Palisades and Eaton fires in the Los Angeles area.
“We’re seeing an uptick in activity in Malibu,” Westside Estate Agency’s Kurt Rappaport, the listing agent for the property, told Mansion Global. “Life and the market are getting back to normal.”
O’Malley acquired the property in 2001 for $11 million from the estate of Nick Vanoff, a TV executive whose credits included “The Sonny and Cher Show.”
The home, built in 1994 in a Greek-inspired style, is on an approximately 2.3-acre site overlooking the Pacific Ocean. The journey to the front door includes a 200-foot-long driveway lined with 100 olive trees. The main house spans about 8,700 square feet, making it “one of the bigger houses” in the Paradise Cove enclave, “the most valuable stretch of real estate in the United States” also home to Beyoncé and Jay-Z’s $200 million mansion, Rappaport said.
The main house has four bedrooms, including a primary suite complete with a private terrace and a sitting room with a fireplace. There are two more bedrooms in a guest house and additional staff quarters. In total, there are seven and a half bathrooms on the property.
Amenities include a regulation-size tennis court, a swimming pool and a private path to the beach below. The home even has its own beach bar.
O’Malley became president of the Dodgers organization in 1970 and took the ownership reins after his father Walter O’Malley’s death in 1979. O’Malley remained in an ownership position until 1998 when Rupert Murdoch’s News Corp bought the team for $350 million.