Beverly Hills Estates’ Malibu division is cranking up the dealmaking in the coastal city.
The West Hollywood-based brokerage’s Malibu Estates went into contract on a Point Dume home at 29200 Larkspur Drive that’s listed for $16.5 million, or $2,586 per square foot. It also marked last week’s top Los Angeles County home to go into contract, based on a report compiled by Marcy Roth of Douglas Elliman’s Eklund Gomes team.
The Eklund Weekly Luxury Report Los Angeles rounds up single-family homes and condominiums listed in the Multiple Listing Service for $4 million or more and lists the top contracts based on asking price.
The Larkspur Lane property was one of 18 Los Angeles County homes that went into contract last week, according to the Eklund Gomes report. That equated to $123.1 million in volume, which was up from a year earlier when the market had 18 homes go into contract to total $114.8 million.
The Malibu home counts six bedrooms and seven bathrooms across more than 6,300 square feet. It boasts a gym, sauna, theater and rooftop garden.
Property records show the seller is a Wyoming holding company, which is being represented by listing agents Trevor Wright and Branden Williams of the Beverly Hills Estates.
The pending deal is the latest in Malibu for the brokerage’s newly established Malibu Estates division.
Williams and Wright, along with brokerage CEO Rayni Williams launched Malibu Estates in April as part of a longer-term plan to expand the brokerage brand in key Southern California luxury markets. The Malibu division follows last year’s launch of the Palisades Estates, which is helmed by Jacqueline Chernov.
The Larkspur Lane contract comes on the heels of Yucaipa Companies founder Ron Burkle selling his beachside home at 23708 Malibu Colony Road for nearly $20 million, or $7,992 per square foot. The billionaire investor, who is controlling shareholder and executive chair of members-only club Soho House, was represented by Branden.
There’s also 6889 Dume Drive in Malibu, of which Branden and Compass’ Chris Cortazzo were the listing agents. That property sold at the start of the month for $18.5 million, or $2,176 per square foot.
Malibu Estates has so far sold $86 million in volume within the beach city so far this year, according to the brokerage.
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