This Record-Breaking Estate Is Malibu’s Most Expensive Listing Ever

Built on the iconic site of “Malibu Castle,” a brand-new architectural masterpiece has just been listed for a record-breaking $80 million––the most expensive asking price ever for an estate in Malibu, according to press materials.

Following a fire in 2007 that burned down Malibu Castle, developer and architect Scott Gillen bought the land in 2005 for $9.7 million from heiress and philanthropist Lily Lawrence, who owned the home. Malibu Castle was designed after a Scottish-style castle, and Lawrence was known to host many extravagant galas there.

Gillen’s transaction was the third highest recorded land sale in Malibu history, according to the Multiple Listing Service. He then began the planning and construction of “The New Castle,” which is expected to be completed and ready for move-in this April. Gillen’s firm Unvarnished is known for developing properties with over $130 million in sales.

Set on 3.5 acres and adjacent to Serra Retreat, the estate overlooks the Santa Monica Bay, Catalina Island, Malibu Colony, and Surfrider Beach.

Read the full story here at www.HauteResidence.com.

Images courtesy of Coldwell Banker