Media exec Michael Lambert sells Billionaire’s Beach villa for $19.55 million

Business



There’s a purpose Carbon Beach is nicknamed Billionaire’s Beach. The prized stretch of sand off the Pacific Coast Freeway in Malibu routinely sees gross sales north of $20 million and occasional record-breaking offers.

Hotelier Peter Morton set a Los Angeles County document at when he unloaded his Carbon Beach compound for $110 million in 2018. Final yr, a contemporary mansion owned by the late philanthropist Eli Broad traded hands for $51.65 million.

Michael Lambert, a media government who frolicked at twentieth Century Fox and HBO, is the newest to promote within the ritzy enclave. Data present he simply handed his Mediterranean-style villa with 60 toes of seashore frontage for $19.55 million. The sale was a three-year effort for Lambert, who first supplied it at $23.75 million in 2019.

The client, The Occasions has confirmed, is actual property investor Robert Rivani, president of the industrial actual property agency Black Lion. Rivani mentioned he plans to renovate and flip the property.

Inbuilt 1927, the two-story villa spans 4,650 sq. toes with traditional Mediterranean model. Stucco and clay tile cowl the outside, and inside, rustic beams and stained-glass skylights cling above arched doorways and stone flooring.

Highlights embody an indoor-outdoor lounge with a fire and moist bar, in addition to a kitchen and eating room separated by a dual-sided hearth. On the fringe of the house, there’s an indoor spa.

Elsewhere are 4 bedrooms and 4 loos, together with a main suite that spans your entire second story and features a lounge, customized hearth, terrace overlooking a leafy courtyard and balcony overlooking the seashore.

Chris Cortazzo and Bruce Mibach of Compass held the itemizing.

Along with founding Lambert Media Group, Lambert has served as government vice chairman of HBO and president of home tv of twentieth Century Fox.

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