Introduction to Malibu Property
A multiparcel property in Malibu traded quietly in the off market for $80 million to mark one of the coastal city’s priciest deals this year.
The sale of 28719 Grayfox Street was recorded with the Los Angeles County Recorder’s Office July 29, according to a copy of the deed.
Seller and Buyer Information
The seller is a Wyoming shell company called Surfwatch LLC, which state records show is managed by Wendy Schreiber Fiske. It’s registered to a Santa Barbara address that is owned by Schreiber Fiske and serial entrepreneur Orlo James Fiske, who is the chief technology officer of electrical energy storage tech company Gravity Power, according to documents filed with the Securities & Exchange Commission.
The buyer is PDPG LLC, which has a Longview, Texas mailing address, according to property records.
Property Details
A roughly 1,300-square-foot home sits on the 1.4-acre lot, while the other lot is vacant.
It was not immediately known what brokerage, if any, was involved in the transaction.
Market Trends
The Grayfox Street deal is so far the priciest known trade in Malibu this year in what’s shaking out to be a relatively quiet period for the city’s residential market relative to the trades that took place in 2024.
Last year included the blockbuster purchase of a Paradise Cove property by Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, for $94 million. Oakley and Red Digital Cinema founder Jim Jannard also reportedly sold his property on Pacific Coast Highway for $210 million to mark a new high among residential deals in the state.
Recent Sales
Still, with Mailbu’s Grayfox Street deal under its belt, things could be heating up.
In June, spec developer Scott Gillen sold 24198 Case Court for $50 million, listing sites show. The property is one of five expansive estates sitting atop its own bluff to comprise the community Gillen named The Case.
The end of June also saw 29130 Cliffside Drive in Malibu sell for $49.8 million. The closing price was a discount from the $65 million luxury residential developer TriWest Development had first hoped for when the property hit the market last August.
Read More
Read more
Resi developer gets $50M for Point Dume manse that originally asked $65M
WEA, Beverly Hills Estates cut deal on $27M Malibu Colony home
Oakley founder sells Malibu estate for $210M, a state record
Conclusion
The sale of the Malibu property on Grayfox Street for $80 million is a significant deal in the coastal city’s residential market. The transaction marks one of the priciest deals in Malibu this year, and it could be a sign of things heating up in the market.
FAQs
Q: How much did the Malibu property on Grayfox Street sell for?
A: The property sold for $80 million.
Q: Who was the seller of the property?
A: The seller was a Wyoming shell company called Surfwatch LLC, managed by Wendy Schreiber Fiske.
Q: Who was the buyer of the property?
A: The buyer was PDPG LLC, with a Longview, Texas mailing address.
Q: What is the size of the property?
A: The property consists of a 1.4-acre lot with a roughly 1,300-square-foot home, and another vacant lot.
Q: Is this the most expensive sale in Malibu this year?
A: Yes, the Grayfox Street deal is the priciest known trade in Malibu this year.
