Baseball Royalty's Malibu Mansion Returns: Peter O’Malley Relists Paradise Cove Estate with a $10.5 Million Price Cut
Former Los Angeles Dodgers owner Peter O’Malley has returned his sprawling Malibu compound to the market, this time with a significant price reduction, signaling a renewed push to sell the trophy property.
The Mediterranean-style mansion, located on the ultra-exclusive blufftops of Paradise Cove, is now asking $74.5 million. This price represents a more than $10 million discount from the original $85 million list price when the property first debuted in the spring of 2024.
The price adjustment and relisting come after the Pacific Coast Highway home was temporarily taken off the market in February following the catastrophic wildfires in Los Angeles.
Paradise Cove and a Return to Normalcy
According to listing agent Kurt Rappaport of Westside Estate Agency, the timing reflects a recovery in the high-end market. "We’re seeing an uptick in activity in Malibu—life and the market are getting back to normal,” Rappaport said, having brought the property back to the market on Tuesday.
The compound sits on 2.27 acres overlooking the Pacific Ocean, along a stretch of coast Rappaport calls “the most valuable stretch of real estate in the United States.” The neighborhood is home to a host of notable residents, including Beyoncé and Jay-Z, who paid a record-breaking $200 million for an estate just down the road.
Property Details and History
O’Malley, 75, purchased the blufftop estate in 2001 for approximately $11 million from the estate of television executive Nick Vanoff (producer of The Sonny and Cher Show). The property features a main house built in 1994 with a Greek-inspired design, spanning about 8,700 square feet.
Key features of the compound include:
-
Size: 6 bedrooms and 7.5 bathrooms in total, including a main house with four bedrooms and a separate guest house with additional staff quarters.
-
Approach: A dramatic 200-foot-long driveway lined with 100 olive trees.
-
Main Suite: A primary suite that boasts a sitting room with a fireplace and a private terrace.
-
Amenities: A regulation-size tennis court, a swimming pool, and a private path to the beach below that leads to the home's own beach bar.
O'Malley's Legacy in Baseball
Peter O’Malley has deep roots in the sports world. He became president of the Dodgers organization in 1970 and took over full ownership after his father, Walter O’Malley, died in 1979. He maintained ownership until 1998, when Rupert Murdoch’s News Corporation purchased the team. Since 2012, O’Malley has been a part-owner of the San Diego Padres.
For information on this extraordinary piece of Malibu real estate, please contact Campbell Wellman to book an exclusive showing.