New Gated Enclave to Rise in Malibu After $50-Million Land Deal

Malibu, real estate, los angeles











By Neal J. Leitereg

Originally Published by LA Times

The sale of a storied Los Feliz estate and a $50-million exchange in sunny Malibu were among L.A. County’s priciest real estate transactions in June.

$50 million — Malibu

 The Crummer Estate, an undeveloped, 24-acre property on Pacific Coast Highway, sold in Malibu’s third priciest deal of the year to speculative developer and Unvarnished founder Scott Gillen. It had been listed for $60 million, records show.

Set on a bluff overlooking Malibu Colony, the plateau is surrounded by 360-degree mountain and ocean views. Gillen intends to work with architect Richard Landry to created a new gated enclave consisting of five single-family homes.

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