Closing comes at discount from $33M list price

A Cape Cod-style home in Malibu Colony sold this month for $26.8 million, making it the priciest on-market residential deal so far this year in the ritzy coastal city.

The six-bed, five-bath home at 23736 Malibu Colony Road hit the market in March last year for $38.5 million, according to listing sites. Its most recent asking price was $32.5 million before its May 2 closing, according to the Multiple Listing Service.

A Delaware limited liability company called Nachmi was the seller, according to property records. A filing with the state indicates the LLC is managed by Christian Leone, who is founder and CEO of New York hedge fund Luxor Capital Group.

While the selling price is off from the original ask, Leone still walks away with a large sum after buying the property in 2013 for $17.4 million, according to MLS records.

Compass’ Chris Cortazzo was the listing agent.  

The deed on the sale has not yet been recorded, but the mystery buyer was represented by Westside Estate Agency’s Kurt Rappaport and Beverly Hills Estates’ Branden Williams and Rayni Williams.

Click here to read the full article on TheRealDeal.com.