Michael Ovitz Lists Three Oceanfront Malibu Properties for $29.5M

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Michael Ovitz may not be building the massive 10,000 sq. ft. mansion we envisioned over his three adjoined Malibu lots, as he just listed the beachfront properties for a hefty $29.5M. The former president of Walt Disney Company snagged the three properties with obvious visions of a developed oceanfront estate.

The properties together amass a little over an acre, but Ovitz planned to build an eight bedroom, 9.5 bath home with a swimming pool, spa, tennis court and screening room designed by Steve Giannetti. The outdoor area would have also featured patios and balconies for the perfect ocean view.

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Photos courtesy of Realestalker

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