WEA News

$50 Million Sale Sets Malibu Record

The end of June marked an exciting venture for Malibu luxury real estate when developer, Scott Gillen, made a record-shattering land purchase of $50 million. According to the Multiple Listing Service, this new sale triumphed the previous Malibu land sale record of $10.75 million that was established in 2007.

With 24 bountiful acres of land, Scott Gillen and his team are breaking ground to build 5 sumptuous homes that overlook Malibu Colony and the glistening waters of the Pacific.

Luxurious Homes of The Case

The buyer and developer of the abundant, 24-acre Malibu land, Scott Gillen, is the founder and owner of Unvarnished, a site dedicated to Gillen’s portfolio of design projects. With a taste of breaking real estate records, Gillen has sold his Malibu home for a record of $85 million.

With a love for unique design and architecture, Gillen is eager to take on this next project to build not one, but 5 magnificent homes that will provide potential buyers with luxurious amenities and breathtaking ocean views.

Located along the Pacific Coast Highway and settled on the bluffs above Malibu Colony, Gillen’s opulent gated residential retreat is in the process of construction. Gillen purchased this land from a joint venture of Oaktree Capital and Big Rock Partners. Before selling, Oaktree Capital and Big Rock Partners successfully obtained proper coastal development permits and documentation, which allowed the approval process for building to be much smoother for Gillen and his team. To help him alongside his enterprise to establish the grand enclave of The Case, Gillen hired Richard Landry to co-design the 5 homes. Richard Landry, also known as the “King of the Megamansion”, is a renowned architect who has designed homes for celebrity moguls such as Mark Wahlberg, Tom Brady, Lisa Vanderpump, Eddie Murphy, and many more.

In an interview with The Hollywood Reporter, Gillen reveals his plans for 24108 Pacific Coast Highway; though the 5 homes will be built concurrently, each estate will be uniquely designed. Gillen explains, “Each one is going to be extremely different, but with the same feeling and vibe but with different shapes” (Source). With the help of Landry, Gillen envisions these homes to emanate a mid-century modern aura with plenty of warmth.

Once finished, these palatial Malibu homes for sale are estimated to go on the market for 40 to 60 million dollars.