#malibu-real-estate

#malibu-real-estate

"Pavilion Hotel has long been part of Avalon's story, and this next chapter is an opportunity to both honor that legacy and reintroduce it in a way that feels thoughtful and true to the island."

The second highest sale was for a home built in 1948, but remodeled and known most recently as the Cameron Estate because it was owned by Ron Cameron, who developed the Malibu Grand Prix, a racing park in Northridge, open to the public. Cameron owned the 5-acre Malibu home, with about 7,000 square feet of interior space and 450 feet of beach frontage, for about 10 years.

The corner of Sunset Blvd. and Alpine Drive became a traffic nightmare. Tour buses made it a stop. Tourists and locals alike milled about, gawked and took pictures. The neighbors were incensed. The "renovation" performed by Sheik Mohammed al Fassi, then 28, and his wife made them the talk of the town.

Spyglass Hill was the first of the planned communities that emerged in Newport Beach. Originally owned by the Irvine family, the land was developed under the auspices of the Irvine Co. Spyglass Hill was built in the early 1970s by the Lusk Co., and the last tract was completed in 1972.

In a housing market defined by high mortgage rates and tight inventory, the very top of the market is still moving-sometimes at jaw-dropping prices.

In 2021, during the peak of the pandemic housing market that saw L.A. home prices skyrocket, The Times compiled a list of the newest neighborhoods to join the proverbial "million-dollar club," where the typical single-family home value is above $1 million. Five years later, plenty more have made the cut. Whereas the previous group featured trendy L.A. neighborhoods (Echo Park, Highland Park), South L.A. enclaves (Crenshaw, Leimert Park) and slices of the San Fernando Valley (Porter Ranch, Woodland Hills),