David Geffen Selects Madison Partners To Sell Second Malibu Site
Madison Partners has successfully arranged the sale 22648 Pacific Coast Highway, a 10-unit luxury apartment building located on Carbon Beach in Malibu, California. Bob Safai of Madison Partners arranged the sale to Mani Brothers Real Estate Group of West Hollywood for $15 million in the off-market transaction.
22648 Pacific Coast Highway is a garden-style apartment community featuring a full array of common area amenities as well as convenient access to the Malibu Pier, local restaurants and a variety of professional services located within walking distance of the property. The coastal property resides only 100 yards away from world-famous Nobu Restaurant and The Malibu Beach Inn, an acclaimed 47-room boutique hotel which was also recently acquired by the Mani Brothers Real Estate Group.
The property is situated along the glamorous stretch of Carbon Beach nicknamed “Billionaires Beach”, providing tenants nearly 90 feet of beachfront access and unimpeded ocean views from each unit. 22628 Pacific Coast Highway consists of nearly .40 acres of land, improved with a two-story 13,516 square-foot structure.