Isaac Larian, founder of the toy company behind the Bratz dolls, purchased a Frank Gehry-designed beachfront home in Malibu for $24.15 million.
The MGA Entertainment chief executive got quite the deal, as the property reportedly hit the market for $57.5 million in 2013. The price had dropped to $29.9 million on July 5, 2016, according to MLS. The deal was first reported by The Real Deal.
The six-bedroom 10-bathroom home was built in 1989 for PennCorp Financial chief executive Burton Borman, who died in 2012. His estate was sold by Borman’s heirs on Tuesday in a court-ordered partition sale in Los Angeles Superior Court.
Sources told The Real Deal that Borman’s children were battling with his ex-wife Navabeh Borman over the home’s value.
The house, at 31250 Broad Beach Road, clocks in at 11,000 square feet and borders Broad Beach. It includes a tennis court and lap pool.
Larian did not immediately respond to requests for comment. The listing agent Kurt Rappaport of Westside Estate Agency declined to comment.
Van Nuys-based MGA Entertainment manufactures toys, games, and girl’s lifestyle products. Its toy lines range from Bratz to Lalaloopsy dolls, Num Noms, and Little Tikes.
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