Real Estate

Malibu Spec Home by Scott Gillen Sells for $61M, Another in Escrow for $60M

Malibu spec home "The Edge" sells for $61M, part of a luxury real estate surge including $210M and $94M sales.

By Tal Alexander

7/10, 11:03 EDT

Key Takeaway

  • Scott Gillen's Malibu spec home, The Edge, sold for $61 million; another home in the community is in escrow for $60 million.
  • The Case community features estates priced between $70 million and $125 million, with sizes ranging from 9,500 to 12,000 square feet.
  • June saw multiple high-end Malibu sales including Jim Jannard’s estate at $210 million and Laurene Powell Jobs' fourth property at $94 million.

A Landmark Sale in Malibu's Luxury Market

Scott Gillen, the founder of Unvarnished, has achieved a significant milestone by securing the first buyer for his exclusive Malibu spec community, The Case. The property, known as The Edge, sold for an impressive $61 million, marking a notable event in the high-end real estate market. This sale is part of a broader trend of luxury transactions in Malibu, with another home in the same community currently in escrow for $60 million. The Edge, located at 24186 Case Court, initially listed for $75 million in 2020, highlighting the premium value of this unique development.

The Details of The Edge Sale

The Edge is a sprawling 10,500-square-foot estate featuring five bedrooms and eight bathrooms. The property boasts a 75-foot infinity pool, a 10,000-square-foot wraparound deck, a 500-square-foot terrace attached to the primary suite, and a wine room capable of holding over 800 bottles. The sale was facilitated by Sandro Dazzan, Paul Lester, Aileen Comora, and Daniel Stevenson of The Agency, with Cooper Mount of Carolwood representing the undisclosed buyer. This transaction underscores the high demand for luxury properties in Malibu, particularly those offering unique amenities and expansive living spaces.

Malibu's High-End Real Estate Boom

The sale of The Edge is part of a larger surge in high-end real estate transactions in Malibu. June alone saw several significant sales, including Oakley founder Jim Jannard’s estate for $210 million and Laurene Powell Jobs' $94 million purchase of a Paradise Cove property. Additionally, Crown Pointe Estates closed on a $28.5 million net-zero carbon home, part of its Zero Series. These transactions reflect a robust market for luxury homes in Malibu, driven by affluent buyers seeking exclusive, high-value properties.

Broader Implications for the Luxury Market

The successful sale of The Edge and the ongoing interest in The Case community highlight a broader trend in the luxury real estate market. High-net-worth individuals are increasingly investing in properties that offer not only opulence but also unique features and sustainable living options. This trend is evident in the rising prices and quick turnovers of high-end homes in desirable locations like Malibu. The demand for such properties is likely to continue, driven by a combination of limited supply and the appeal of exclusive, well-designed estates.

Management Quotes

  • Scott Gillen, Founder of Unvarnished:

    "Very proud to announce the first closing at The Case. House three, I have been on this development for about seven years."