There’s a reason Carbon Beach is nicknamed Billionaire’s Beach. The popular stretch of sand off the Pacific Coast Highway in Malibu regularly sees sales north of $20 million and the occasional record deal.
Hotelier Peter Morton set a Los Angeles County record when he offloaded his Carbon Beach resort for $110 million in 2018. Last year, a modern mansion owned by the late philanthropist Eli Broad traded its hands for $51.65 million.
Michael Lambert, a media executive who spent time at 20th Century Fox and HBO, is the latest for sale in the posh enclave. Records show he just walked past his Mediterranean-style villa with 60ft of beachfront for $19.55million. The sale was a three-year effort for Lambert, who first offered it for $23.75 million in 2019.
The buyer, The Times confirmed, is real estate investor Robert Rivani, president of commercial real estate company Black Lion. Rivani said he plans to renovate and flip the property.
The courtyard. (Black Lion)
View. (Black Lion)
The open floor plan. (Black Lion)
The living room. (Black Lion)
The bar. (Black Lion)
The dining room. (Black Lion)
The kitchen. (Black Lion)
Bedroom. (Black Lion)
The balcony. (Black Lion)
The indoor spa. (Black Lion)
The patio. (Black Lion)
The two-storey house. (Black Lion)
Built in 1927, the two-story villa spans 4,650 square feet with a classic Mediterranean style. Stucco and clay tile cover the exterior, and inside, rustic beams and stained-glass skylights hang above arched doorways and stone floors.
Highlights include an indoor-outdoor living room with a fireplace and bar, plus a kitchen and dining area separated by a double-sided fireplace. At the edge of the space, there is an indoor spa.
Elsewhere are four bedrooms and four bathrooms, including a master suite that spans the entire second floor and features a living room, custom fireplace, terrace overlooking a leafy courtyard, and balcony overlooking the beach.
Compass’ Chris Cortazzo and Bruce Mibach held the list.
In addition to founding Lambert Media Group, Lambert served as executive vice president of HBO and president of national television for 20th Century Fox.