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5M Oceanfront Compound in Malibu Reportedly Finds a Buyer

Summer is ending with a bang for Malibu real estate. The oceanfront estate reportedly owned by NBCUniversal executive Ronald Meyer has found a buyer, Variety reports. The listing price was a gasp-inducing $125 million, but the final sale price has yet to be disclosed.

After Meyer and his long-time wife, Kelly Chapman Meyer, announced their split last year, Meyer began quietly to shop around the estate in a discreet fashion.

But with no acceptable offers forthcoming, the home landed on the market in January. If the sale closes at list price, it could set a record for the area. 

“Thank God for the Ron Meyer sale,” says listing agent Tracy Tutor with Douglas Elliman Beverly Hills. Tutor wasn’t involved in this transaction, but she was ecstatic nonetheless, saying, “I’m thrilled about it. It just confirms that Malibu is stronger than ever.”

Tutor recently launched a $500 million ultraluxury portfolio of 13 properties in the Malibu area, ranging from $16 million to $100 million.  

Recession, schmecession? Tutor opined to us that Malibu appears to be immune. “Whatever’s happening in the global markets, there are certain areas that aren’t affected. And Malibu is one of them.”

As for this Malibu property, it’s set on 3 acres of private, parklike land. The spread features six bedrooms, 7.5 bathrooms, and 13,693 square feet. 

With a contemporary design, the layout includes high ceilings, walls of glass, and a great room that overlooks the ocean.

According to the listing details, the property is located in “the most exclusive area in Malibu, with a private pathway to one of the most beautiful beaches anywhere.”

The Charles Gwathmey-designed residence was built for the Meyers. The interior includes an “incredible” master suite, a two-story paneled library and gallery, and a gourmet kitchen with a family room. 

There’s also a home theater, gym, office, and guest suites. Additional perks include two guesthouses, a tennis court, and a spa house.

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Of course, Malibu is no stranger to stratospheric price tags. Tutor currently holds the listing for a $100 million build set to be completed next year. Dubbed Case 5, it’s set on the Malibu bluffs. The minimalist property recently topped our list of most expensive home for the week.

Last year, the $110 million sale of the beachfront home of Peter Morton, co-founder of the Hard Rock Cafe, set a record for the county. It’s since been broken by the recent sale of the megamansion known as the Manor in L.A.’s Holmby Hills for $119.7 million.

The recent transaction brings home the fact that the Malibu real estate market spins on its own axis. “It isn’t the first massive sale that is happening in Malibu, and it’s not going to be the last,” says Tutor.

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