Malibu’s most expensive listing is an $80M spec mansion

Malibu’s priciest listing ever is a “nearly complete” mansion with 15,200 square feet of living space and an $80 million price tag, reports The Real Deal.

The residence is built on a site previously occupied by the famed Castle Kashan, a locally legendary castle replica that burned down in 2007.

The new mansion, a project of developer Scott Gillen, first listed in 2015 for $60 million, then relisted in 2016, this time for $75 million.

Listing agent Alessandro Dazzan told TRD that Gillen raised the price to $80 million after investing more in construction and adding decor elements and an art collection in an attempt to make the house “turnkey.”

The house sits on property that spans 2.5 hilltop acres, says TRD. The 11,000-square-foot main house has five bedrooms, aged oak floors, and tons of teak: “a teak library-like wine room,” a teak cigar room, and a 12-foot teak dining table.

The property also includes a 4,200-square-foot guest house, which has two bedrooms and its own kitchen, as well as an infinity pool that “cascades down two stories to the basement level of the home.”

If the house sells for even half of what it’s listed for, it stands to break a record in Malibu. The beach city’s most expensive sale on the open market to date is held by 22314 Pacific Coast Highway, which Oracle cofounder and Malibu property collector Larry Ellison purchased for $36.9 million back in 2012.

• Cash castle: Spec manse on former Castle Kashan site now asking $80M [TRD]
• 23800 Malibu Crest Drive [Coldwell Banker]
• Mapping 15 of Tech Billionaire Larry Ellison's Malibu Properties [Curbed LA]