March 3, 2008

Mel Gibson's Malibu, CA sale price revealed; actor/director/producer sold his house on Broad Beach for $23M and sold an adjacent lot for $5M

Public records have cleared on the sale price for the oceanfront property in Malibu, Calif. that actor/director/producer Mel Gibson recently sold, and they reveal that Gibson sold it for $23,000,000 -- and also sold an adjacent vacant lot to the same buyer for $5,000,000.

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In a Big Time Listings exclusive, we can report on the sale price for the 5,322-square-foot house and oceanfront property at 31430 Broad Beach Road in Malibu, which Gibson's Millicent Trust had purchased in 2005 for $22,673,226, according to public records. Back on July 12, we broke the story about the uncertain status of several of Gibson's Malibu properties, particularly since our review of public records at that time had shown that Gibson appeared to have sold 31430 Broad Beach Road in June to something called 2XMD Partners. Records showed that 2XMD Partners, which is owned/run by a guy named Kenneth Ehrlich, had bought from Gibson both the 0.55-acre lot containing the house at 31430 Broad Beach Road and an adjacent, 0.27-acre parcel. Then, on July 29, the Times' Ruth Ryon wrote about Gibson having sold the 31430 property -- as usual, not crediting us for our scoop -- and stated that Gibson had sold the house for "nearly $30 million." The status of some of Gibson's other Malibu properties remains uncertain. He has owned two other houses, at 31302 Broad Beach Road and at 31310 Broad Beach Road, but records show that an entity called the BB309 Trust acquired them in January. However, no sale price has become available for those houses, and it's unclear to us whether the BB309 Trust is an entity that Gibson controls or not (it does not appear that it is). Gibson also owns an 8.98-acre property at 2401 Sierra Creek Road in the Cornell area of Los Angeles (near Agoura Hills) that he purchased through his Millicent Trust in June 2004 for $1,750,000, according to public records. And, Gibson long has owned a 5,403-square-foot house and an adjacent, 1,476-square-foot house on 3.32 acres at 23333 Palm Canyon Drive in Malibu that he owns through his Palm Canyon Trust 1 and 2, according to public records. Gibson also has widely been reported to have sold his 28-room, Tudor-style mansion at 124 Old Mill Road in Greenwich, Conn. after having had it on the market for $39.5 million, but we have seen nothing in public records yet to prove that a sale has taken place. The actor also recently paid a reported $25.8 million for a 400-plus acre agricultural and cattle ranch in Costa Rica, according to news accounts.

Posted in Hollywood Stars
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