Move real estate developer Richard Weintraub to the head of the class. Weintraub has listed his Malibu home for about $35 million. But if you add in the four adjacent lots and guest homes that sit on them, the price leaps to $75 million, which makes it the highest-priced listing in Malibu in the MLS and one of the top properties listed in greater Los Angeles.
The property, featured in the movies “Funny People” and “I Love You Man,” is also available for lease at $87,500 or $250,000 per month, depending on how much of it you want to occupy. It is, as they say, all negotiable.
Weintraub is president of Weintraub Financial Services Inc., which specializes in commercial and residential real estate. The property is an 8-acre estate featuring a three-story home of 12,500 square feet with four bedrooms and eight baths. There are three swimming pools, including one in Greek revival style with walls lined with more than 500,000 seashells and a glass ceiling. The resort-style property includes a north-south tennis court and parking for up to 10 cars. One guesthouse has six bedrooms. While it has drop-dead gorgeous ocean views, the property sits on the bluffs and does not have direct beach access.
Weintraub built the house known as La Villa Contenta and is building another one nearby. He expects to travel extensively during construction, hence the search for a tenant if not a buyer.
Weintraub’s business ventures have included a number of high-profile projects, including the development of the Malibu Lumber Yard. Several years ago, he purchased the Sportsman’s Lodge Hotel in Studio City.
His wife, Liane, co-founded Tastybaby, a line of organic baby food products.
Chris Cortazzo of Coldwell Banker Previews International, Malibu West, has the listing.
$30 Million Off
Investment banker William Chadwick has listed his 10,500-square-foot Carbon Beach home in Malibu at $35 million. Two years ago, it had a price tag of $65 million, which was regarded by many at the time as unrealistic – despite the dazzle of the property and the A-list location. New agent, new miserable market: new price tag.
Truth is, at $35 million, this house is well-priced. Last June, apparel executive Charles Perez sold his 5,800-square-foot house on the same sandy stretch for $25 million to Microsoft co-founder Paul Allen. Comps, people, it’s all about the comps.
Chadwick’s 10,500-square-foot house is one of my favorites along Carbon Beach, mainly because he has a glass gate that allows me to peek through to the ocean as I sit in traffic along Pacific Coast Highway. I’d love to know more about the odd animal metal sculpture that sits in the yard – a bull for the bull market, perhaps?
The property has 150 feet of beachfront and a 75-foot oceanfront swimming pool. There is a 16-seat home theater, an aquarium that takes up one full wall, a wine cellar, a home gym and a pub.
Chadwick served as Gov. Gray Davis’ representative in talks to bring a National Football League team to Los Angeles.
Chris Cortazzo also has the listing.
The Pacific Palisades home of Chris Ursitti, chief executive of GreenHouse Holdings – an ethanol fuel provider – has come on the market at $9.5 million.
Ursitti is also a managing partner of Los Angeles Center Studios and was instrumental in getting the Unocal building in downtown Los Angeles repurposed into a multiuse facility; it had been slated for demolition.
The home is a gated estate with unobstructed canyon views. The traditional-style home has an open floor plan, formal living and dining rooms, a kitchen with attached great room, a wine-tasting room and a media room. There is a pool, spa, waterfall and terraces for dining. The property is next to hiking trails at Will Rogers State Park.
Aaron Kirman of Hilton & Hyland in Beverly Hills is the listing agent.
Los Feliz Sale
Wesley K.S. Phoa, senior vice president of Capital International Research Inc., has sold his Los Feliz home for $2.3 million, according to the MLS.
Phoa joined Capital in 1999. Prior to that, he was with Capital Management Sciences in Los Angeles for three years, where he served as vice president and later as director of research. Before that he spent three years with Deutsche Bank in Australia as a quantitative analyst and three years as a mathematics lecturer and research fellow. He sits on the Editorial Advisory Board of the Journal of Portfolio Management, and is an elected member of the Conference of Business Economists.
Nick Segal and Scott Carmody, both of Partners Trust Real Estate Brokerage, represented the buyer. Maryann Kuk of Housing Solutions had the listing.
Ann Brenoff can be reached at firstname.lastname@example.org.
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