Public records have cleared on the sale price of the beachfront mansion in Malibu, Calif. that actress Courteney Cox had sold in July to Los Angeles Dodgers owners Frank and Jamie McCourt, and they reveal that the sale price was $27,250,000.
In a Big Time Listings exclusive, we can report on the sale price of the 4,486-square-foot (or 5,500-square-foot, according to the Los Angeles Times), John Lautner-designed mansion at 22426 Pacific Coast Highway in Malibu. We were right on target when we predicted in our post on August 15 that once the sale price was released, it would show that the house sold for "a whole lot less than the $33.5 million asking price."
And yet again, Cox's sale price proved that the Los Angeles Times' Ruth Ryon basically concocts the amounts for which she reports that properties sell. She invariably reports that a house sells for "close to" a given listing price, even though public records often later reveal that the "close to" amount was flat-out wrong. In this case, Ryon reported on August 5 that Cox sold the Malibu house for "close to its $33.5 million asking price." In truth, $27,250,000 is hardly "close to" $33,500,000, and actually is almost 20 percent less than the house's asking price.
Cox and her husband, David Arquette, are remaining in Malibu and continue to own a 4,994-square-foot house in Beverly Hills, Calif. Check out our February 2 item for a full rundown of Cox and Arquette's real-estate empire, and of course take a look at our August 4 post for the most up-to-date details on their new property at 27460 and 27466 Pacific Coast Highway in Malibu.
In 2001, Cox paid $10,185,000 through her Bring It Trust for the Malibu house that she sold in July.