Actress Courteney Cox and her husband David Arquette have bought a 1.84-acre oceanfront estate at 27460 Pacific Coast Highway in the Paradise Cove area of Malibu for an undisclosed price, and have listed their extensively renovated house on Carbon Beach on the Pacific Ocean in Malibu, Calif. for $33.5 million.

While the announcement of the listing of their current, Carbon Beach house in Malibu has attracted a fair amount of recent news media coverage (in the 2/2 Wall Street Journal, and in the 2/12 issue of People magazine), Big Time Listings can exclusively report the reason that the couple is selling their architecturally significant house at 22426 Pacific Coast Highway on Carbon Beach. The couple isn’t leaving Malibu at all. Instead, Big Time Listings is the first to report that they have just bought an oceanfront estate farther down the coast, at 27460 Pacific Coast Highway and 27466 Pacific Coast Highway. The purchase of that estate closed in August 2006 but wasn’t recorded until January 11. And while no purchase price is yet available for the estate, we can report that the new Cox/Arquette compound consists of a five-bedroom, 2,142-square-foot main house on a 1.22-acre parcel at 27460 Pacific Coast Highway, which was built in 1950, and an adjacent, 750-square-foot house on a 0.62-acre parcel at 27466 Pacific Coast Highway that was built in 1948.

The new Cox/Arquette compound in the Paradise Cove area had been listed last year with its price available only on request. See here for a brief listing sheet (with a photo) on that estate.

Interestingly, this isn’t the first time that it’s been reported that Cox and Arquette were marketing their house on Carbon Beach. Last year, a tabloid magazine reported that Cox and Arquette had wanted $32.5 million for the house, which was built in 1979 and designed by celebrated architect John Lautner (1911-1994), an apprentice of Frank Lloyd Wright and one of Wright’s Taliesin graduates.

Most media outlets also have incorrectly reported the amount that Cox and Arquette paid for the Carbon Beach house (People, for instance, just reported that they had paid $10.5 million for it back in 2001). Public records show that the couple actually paid $10,185,000 in March 2001 through their Bring It Trust to buy the four-bedroom house from its original owners, Gilbert and Joanne Segel. The Carbon Beach house is known in architectural circles as the Segel house, and has a pool, a curved roof, frameless glass, skylights, exposed concrete and natural wood, according to a Los Angeles Times article from 2001. It also has 80 feet of frontage on the ocean. The actual square footage of the house is up for debate; the Journal reported that it has about 5,500 square feet, we, however, would tend to agree with public records, which state that the house has 4,486 square feet. The house also sits on a 0.42-acre parcel and has a pool, according to public records.

An inveterate rehabber, Cox historically has liked buying and selling real estate. In 1996, she sold a 2,336-square-foot house at 606 Alta Avenue in Santa Monica for $1.1 million. Also in 1996, through her Bring It Trust Cox paid $2,055,000 for a house at 230 N. Carmelina Avenue in Brentwood, then sold it in 2002 to talk-show host Ricki Lake for $5.6 million, according to public records. Also, in 2003, she paid about $4.5 million for a four-bedroom, 4,702-square-foot contemporary house at 8936 Thrasher Avenue in Los Angeles’ Hollywood Hills. Cox and Arquette sold that house in October 2004 for exactly $5.4 million, according to public records.

Today, Cox and Arquette’s only real-estate holdings are the house on Carbon Beach in Malibu that they’re selling, the estate in Malibu’s Paradise Cove area that they just bought, and a 4,994-square-foot house at 1012 Wallace Ridge in Beverly Hills, Calif., which they quietly bought in June 2004 for $5.45 million, according to public records.