Richard Meier

$110-million home sale in Malibu is set to be a new record for Los Angeles County

$110-million home sale in Malibu is set to be a new record for Los Angeles County

The priciest home on Malibu’s famed Billionaire’s Beach has found a bona fide billionaire buyer.

In what will be the most expensive home sale ever for Los Angeles County, hotelier Peter Morton has an agreement in place to sell his oceanfront property in Malibu’s Carbon Beach, better known as Billionaire’s Beach, to natural gas billionaire Michael S. Smith and his wife, Iris Smith, for $110 million.

It’s an astronomical sale even in the world of luxury real estate. The previous county record was $100 million, which was hit twice in 2016: for the sale of the Playboy Mansion in Holmby Hills, and for a mega-mansion built on speculation in the same neighborhood.

The Malibu...

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