TriWest Development sold a Malibu residence at 29130 Cliffside Drive for $49.8 million, significantly more than the $20.8 million it paid for the property in 2022. After an extensive remodel and a market listing that began at $65 million, the price was reduced to $58 million before closing the sale. The home features luxury amenities, including private beach access and expansive views. This sale ranks among the top transactions in Malibu for the year, just shy of the current record sale of $50 million.
TriWest Development sold the Malibu residence at 29130 Cliffside Drive for $49.8 million, which is more than double its original purchase price of $20.8 million.
Despite initially listing the property for $65 million and later reducing it to $58 million, TriWest successfully closed the sale at $49.8 million.
The property's features include private beach access, 270-degree views, a gym, theater, and a wine cellar, among other luxury amenities.
The deal is among the top sales in Malibu this year, narrowly missing the record of $50 million from another property sold in June.
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