Kirman courts new crowd, international buyers at Prive Malibu

Prive Malibu has opened sales for 68 townhomes in Malibu, offering two- and three-bedroom residences starting at $1.9 million. Homes range from 1,577 to 2,231 square feet, including several penthouses. Prospective buyers include locals seeking entry into the Malibu market, international buyers from Korea and China looking for second homes, and buyers drawn by proximity to local colleges such as Pepperdine University. The property is near Zuma and Point Dume beaches and includes amenities such as a fitness and biohacking studio, sports courts, yoga lawn, zen garden, dog park, and a children’s playground. The brokerage is also positioning a development division to capitalize on momentum in Los Angeles high-end condo demand, driven by downsizing, security, and lower HOA costs that include fire insurance.

"Aaron Kirman’s Christie's International Real Estate Southern California is testing the breadth of demand for coastal condo living, with the brokerage zeroing in on locals previously priced out of the market and international buyers as prospects for the recently opened Prive Malibu. Kirman, along with Tomer Fridman and Amir Ensani, are tasked with selling the property's 68 townhomes, with two- and three-bedroom units that start at $1.9 million."

"That has included locals looking for a way into the Malibu market as well as an international contingent, with Korean and Chinese buyers hunting for second homes. A third bucket of potential buyers wants a location near local colleges in the area, like Pepperdine University, among others. Along with being near Zuma and Point Dume beaches, Prive's amenities run the gamut and include a fitness and biohacking studio, various sports courts, lawn for yoga, zen garden, dog park and playground for kids."

"Kirman, Fridman and Ensani are directors in the brokerage's development division, a new department that's looking to capitalize on buzz around Los Angeles' high-end condo market. L.A. was never necessarily a condo city, although recently we're seeing a lot of people downsize, Kirman said. They ticked off the factors driving interest among those looking to condos rather than single-family homes, noting security benefits and cheaper homeowner association fees, which includes fire insurance."

Read at therealdeal.com