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

There’s a reason why Carbon Beach is nicknamed Billionaire’s Beach. The prized sandbar off the Pacific Coast highway in Malibu regularly hits $20 million in sales north and sometimes record-breaking deals.

Hotelier Peter Morton set a Los Angeles County record by demolishing his Carbon Beach residence for $110 million in 2018. Last year, a modern mansion owned by late philanthropist Eli Broad was traded for $51.65 million.

Michael Lambert, a media executive who has worked at 20th Century Fox and HBO, is the latest to sell movies in the swanky area. Records show he had just passed a Mediterranean-style mansion with 60 feet of beachfront for $19.55 million. The sale is a three-year effort by Lambert, who first offered it for sale for $23.75 million in 2019.

The buyer, The Times has confirmed, is real estate investor Robert Rivani, president of commercial real estate company Black Lion. Rivani said he plans to renovate and turn over the property.

Built in 1927, the 4,650 square foot two-story villa features a classic Mediterranean style. Plaster and clay tiles cover the outside, while inside, rustic rafters and stained-glass skylights hang above arched doorways and stone floors.

Highlights include the indoor-outdoor living room with fireplace and wet bar, as well as the kitchen and dining room separated by double-sided fireplaces. At the edge of the space, there’s an indoor spa.

Elsewhere are four bedrooms and four bathrooms, including a master suite that spans the entire second story and includes a lounge, custom fireplace, patio overlooking a leafy courtyard, and a balcony overlooking the garden. out to the beach.

Compass’ Chris Cortazzo and Bruce Mibach organized the listing.

In addition to founding Lambert Media Corporation, Lambert has served as executive vice president of HBO and president of domestic television for 20th Century Fox.

https://www.latimes.com/business/real-estate/story/2022-06-02/media-exec-sells-billionaires-beach-villa-for-19-55-million Media exec Michael Lambert sells Billionaire’s Beach villa for $19.55 million

Edmund DeMarche

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