$80M Estate Sets Record for Malibu’s Most Expensive Asking Price Ever

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Built on the iconic site of “Malibu Castle,” a brand-new architectural masterpiece has just been listed for a record-breaking $80 million––the most expensive asking price ever for an estate in Malibu, according to press materials.

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Following a fire in 2007 that burned down Malibu Castle, developer and architect Scott Gillen bought the land in 2005 for $9.7 million from heiress and philanthropist Lily Lawrence, who owned the home. Malibu Castle was designed after a Scottish-style castle, and Lawrence was known to host many extravagant galas there.

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Gillen’s transaction was the third highest recorded land sale in Malibu history, according to the Multiple Listing Service. He then began the planning and construction of “The New Castle,” which is expected to be completed and ready for move-in this April. Gillen’s firm Unvarnished is known for developing properties with over $130 million in sales.

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Set on 3.5 acres and adjacent to Serra Retreat, the estate overlooks the Santa Monica Bay, Catalina Island, Malibu Colony, and Surfrider Beach.

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A 400-foot private, double-gated driveway leads to the five-bedroom, six-bathroom residence, hidden at the end of a cul-de-sac, with a motor court and valet stand.

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Encased in floor-to-ceiling, sliding glass walls, the 10,500-square-feet main home is furnished by high-end designers, Minotti and Bottega Veneta, with custom pieces including handmade rugs from New Zealand and a 12-foot, hand-hewn, teak dining table. Custom teak doors and cabinetry, as well as 80-year-old, dry-aged oak flooring is featured throughout, along with artwork by Ellesworth Kelly and Jonathan Burofsky. Gillen originally envisioned staging the property with an airplane as a chandelier. Now, he plans to have a motorcycle on display.

“I think people know me from my open space homes,” Gillen says. “The size of the great room at the ‘Castle’ is so massive that the challenge was to create a great room that was seamless. That’s difficult to do in a room that spans over 120 feet long.”

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There is a wine tasting room, game room, and media room, which opens outside to the 75-foot infinity pool, with a cascading waterfall.

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The detached two-bedroom, four-bathroom guesthouse has a great room, kitchen, gym, and spa in an approximately 4,000-square-foot space.

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One year of concierge service is included with the estate purchase.

The listing at 23800 Malibu Crest Drive is held by Sandro Dazzan of Coldwell Banker.

Images courtesy of Coldwell Banker

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