By: Jack Flemming

The extensive luxury real estate holdings of late billionaire A. Jerrold Perenchio are quickly finding big-budget buyers.

Last year, the former Univision chairman’s Malibu cottage sold for about $1.3 million over the $5.495 million asking price, and, in May, the city of Malibu bought three of his land parcels for $42.5 million. Now, another Perrenchio property in the Malibu Colony has sold for $12.65 million.

The breezy beachfront abode, coated in brick and weathered wood, enters through a gated courtyard that’s walled off from the street. However, the property’s prime outdoor spaces are found out back.

A sun room under beamed ceilings takes in ocean views through picture windows, and outside, a brick patio leads to a waterfront deck that sits above the sand.

Within 3,700 square feet of living spaces are four bedrooms and four bathrooms. The roomy master suite offers dual bathrooms, dual closets and an office before extending out to a second-story balcony.

A floating spiral staircase connects to the main level, where hardwood floors line a chef’s kitchen with a butcher-block island and breakfast nook. The level also holds a living room with a fireplace, a dining area and a wet bar.

The home, which dates back to 1928, first listed in March for $13.95 million but saw its price cut by $500,000 two months later, according the MLS.

Drew Gitlin of Berkshire Hathaway HomeServices California Properties and Sandro Dazzan of the Agency were the listing agents of record. Christopher Cortazzo of Coldwell Banker Residential represented the buyer.