‘Amalfi Coast in Malibu’: $58M Cliffside Estate Is Most Expensive New Listing
Posted on: May 17, 2018, by : Amy Pecoraro

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A European-style estate carved into the side of a cliff in Malibu is this week’s most expensive new listing on realtor.com®, with a price tag of $57.5 million.

Property records show the homeowners bought this vacant half-acre lot for $2 million in 2000, and then spent seven years building their coastal escape, according to the Real Deal.

Named “Il Pelicano” and offering “breathtaking views” of the water, the gated mansion just steps from the beach was designed for indoor and outdoor living.

Built into the rocks with private access to two beaches, the home features European details and custom-made pieces. The combination of the Old World architecture and the surrounding locale make this property simply stunning.

“This is really an extraordinary property. It literally is the Amalfi Coast in Malibu,” says listing agent Shirley Sherman of Douglas Elliman. “The key to this house is that it’s one of a kind. You can probably never build it again. There’s just no other promontory like this.”

European-style estate

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Entry with fountain

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Living room with walls of glass

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Eat-in kitchen

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Outdoor entertaining space

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Bedroom with fireplace…

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… and private terrace

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Sun deck

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Cliffside retreat

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The European details include a reclaimed fountain in the entryway, old French doors, reclaimed hardwood floors, a vaulted ceiling, and a reclaimed Indian stone fireplace.

The ornate interiors are paired with floor-to-ceiling windows, which showcase the ocean views. The home has four bedrooms and 4.5 baths, and it’s estimated to be between 6,000 and 7,000 square feet.

Prices continue to soar for area homes with beach access. The recent $110 million off-market sale of Hard Rock Cafe co-founder Peter Morton’s Malibu home set a Los Angeles–area record, according to Mansion Global. In Malibu, David Geffen’s Carbon Beach compound and Kurt Rappaport’s beach house each sold for $85 million.

This house, however, is hard to compare with the other multimillion-dollar sales in Malibu, Sherman says. “This is very, very unique. The house was built like a piece of art.”

All these astronomic home deals along the beaches of Malibu make this latest offering seem almost like a deal. Almost.

The post ‘Amalfi Coast in Malibu’: $58M Cliffside Estate Is Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®.

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