Peter O'Malley's Malibu Estate Sells for $55M to Architect-Led Joint Venture
Peter O'Malley, the former owner of the Los Angeles Dodgers, has sold his Malibu property located in Paradise Cove for $55 million after being on the market for more than two years. The purchase was made by a partnership that includes architect Scott Mitchell, along with Kurt Rappaport, Jack Harris, and Michael Fahimian. Originally priced at $85 million in mid-2024, the estate was taken off the market during the wildfires of 2025 and later relisted at $74.5 million. Although the final sale price is $31 million less than the initial listing, it exceeds the $11 million O'Malley invested in 2001 by $44 million. Plans are in place to demolish the existing structure for a new ultra-modern compound, which is projected to be listed for over $200 million, although permits are still pending.
Key facts
- Peter O'Malley sold Malibu estate for $55 million
- Property listed for $85 million in mid-2024, reduced to $74.5 million in October
- Buyer is joint venture: Scott Mitchell, Kurt Rappaport, Jack Harris, Michael Fahimian
- Most expensive residential sale in Malibu coastal area this year
- O'Malley purchased property for $11 million in 2001 from Nick Vanoff
- Existing Mediterranean-style home designed by Marc Appleton in early 1990s
- New ultra-modern compound designed by Scott Mitchell with board-formed concrete
- New build to be ~8,800 sq ft on 2.3-acre parcel, expected to list above $200 million
- Tennis court retained, padel court considered
- Permits not yet secured, project to take several years
Entities
Artists
- Peter O'Malley
- Scott Mitchell
- Kurt Rappaport
- Jack Harris
- Michael Fahimian
- Marc Appleton
- Nick Vanoff
- Marc Andreessen
Institutions
- Los Angeles Dodgers
- Westside Estate Agency
- The Beverly Hills Estates
- The Real Deal
- The Hollywood Reporter
- Robb Report
Locations
- Malibu
- Paradise Cove
- Los Angeles
- United States