Gary Gilbert already owns a duo of Los Angeles residences — a $26.5 million mansion in the “flats” of Beverly Hills acquired in 2018, plus a $10 million home in L.A.’s exclusive Bird Streets neighborhood, purchased from actress Courteney Cox nearly two decades ago. But the Oscar-nominated producer and CEO of Gilbert Films has decided to expand his luxe real estate portfolio once again, picking up snazzy oceanfront digs in prime Malibu.
Records reveal Gilbert paid a whopping $17.5 million for a four-bedroom, 4.5-bath structure with nearly 5,000 square feet of living space, all of it framing prime ocean views from nearly every room. The seller was Riot Games cofounder Marc Merrill, who paid $13.1 million for the house in 2016. Originally listed for an even $20 million in mid-June, the place ultimately transferred to Gilbert for a discounted $17.5 million, though it would appear that number still earned Merrill a decent profit.
Best known for producing films such as “La La Land,” “The Kids Are Alright” and “Garden State,” Gilbert also owns the NBA’s Cleveland Cavaliers with his multibillionaire businessman brother Dan Gilbert and musician Usher. A native of Detroit, he cofounded Rock Financial with his brother Dan Gilbert and Lindsay Gross in 1985; after a series of mergers, the company (now Quicken Loans) has become one of the nation’s largest mortgage lenders. Today, Gilbert’s net worth is estimated somewhere in the area of $400 million.
Designed and built by developer Scott Gillen of Unvarnished, the house greets with a dramatic great room boasting a soaring exposed-beamed ceiling, hand-scraped oak floors, and Fleetwood glass doors that open both to an interior courtyard and oceanfront deck. A dining area abuts a gourmet kitchen, which is highlighted by an eat-in island, European Caesarstone countertops and Wolf appliances.
A “floating” stainless-steel staircase heads upstairs to a spacious media/living room, plus a sumptuous master retreat featuring a sitting area and private deck. A spa-like bath is outfitted with dual vanities, a large glass-encased rain shower and stainless soaking tub. Two additional guest suites also can be found on this level, with a fourth downstairs bedroom ideal for conversion into an office or gym. Rounding it all out: a two-car garage and direct beach access.
Sandro Dazzan of The Agency held the listing; Steven Schaefer and Jay Luchs of Newmark Residential repped Gilbert.