Hankey Capital Affiliate Snags $29M Malibu Mansion
Property Details
An entity tied to Hankey Capital has acquired a stunning beachside Malibu mansion for $29 million. The 4,300-square-foot beachfront property at 28034 Sea Lane Drive is located in a gated community, just south of Paradise Cove, a wealthy area that has seen its fair share of record-breaking home sales involving notable celebrities like Beyonce and Jay-Z and venture capitalist Marc Andreessen.
Listing and Sale History
The property was listed by William McMorrow, chairman and CEO of commercial real estate firm Kennedy Wilson, for $55 million in October 2022. McMorrow purchased the property for $14.5 million in 2013, according to property records. The three-bed, four-bath home boasts 90 feet of beach frontage and is situated in a gated community, according to a listing on Redfin.
Buyer Information
The buyer on the deed, an entity called Pieradu LLC, is managed by Eugene Leydiker, Hankey’s chief counsel. The business address for the buyer is identical to Hankey’s address on Wilshire Boulevard, which has raised questions about the true ownership of the property.
Palisades Fire Update
The Sea Lane property sits well outside the 23,448-acre perimeter for the Palisades Fire, which has led to the destruction of over 25 lives. The fire has also resulted in the loss of 6,354 homes within the perimeters of the Palisades and Eaton fires, equivalent to 14% of the total homes in the area.
Recent High-Profile Sales
The Sea Lane transaction is part of a series of high-priced deals that closed at the end of 2024. In December, the former home of Todd Phillips, director of movies such as "The Joker" and "The Hangover," sold for $35 million in one of Beverly Hills’ priciest home sales of the year. That same month, Sue Gross, ex-wife of PIMCO co-founder Bill Gross, sold a Beverly Hills home for $33 million.
Hankey Capital Background
Hankey Capital, run by billionaire Don Hankey, makes loans in the $5 million to $300 million range collateralized by real estate, according to its website. Sister company Hankey Investment owns over 1 million square feet of commercial properties in California. Last year, Hankey made headlines for loaning Donald Trump $175 million to cover his appeal bond for a legal judgment.
Conclusion
The purchase of the Malibu mansion by an entity tied to Hankey Capital highlights the company’s growing presence in the Los Angeles real estate market. As one of the most prominent players in the industry, Hankey Capital continues to make waves with its high-stakes deals and investments.
FAQs
- What is Hankey Capital? Hankey Capital is a real estate investment company that makes loans in the $5 million to $300 million range collateralized by real estate.
- What is the address of the buyer, Pieradu LLC? The business address for Pieradu LLC is identical to Hankey’s address on Wilshire Boulevard.
- How much did the Sea Lane property sell for? The property sold for $29 million.
- Who listed the property? William McMorrow, chairman and CEO of commercial real estate firm Kennedy Wilson, listed the property for $55 million in October 2022.
