As Kevin Garnett said following the Boston Celtics’ 2008 NBA Finals victory, anything is possible. But the process of trying to sell his sprawling Malibu mansion has not been a layup.
Finally, though, the recent Hall of Fame inductee scored a sale by unloading the unfinished estate for $16 million, according to the Los Angeles Times.
Garnett listed the property in 2018 for $19.9 million then pulled the listing in fall 2019. He relisted it in May 2020, when home showings opened back up after the pandemic lockdowns.
Garnett bought the 7-acre property in 2003 for $6.4 million. By 2013, he had demolished a six-bedroom home there and started work on an 11,000-square-foot mansion. The property sits across from Pacific Coast Highway, with views of the ocean.
The mansion was said to be a year away from completion when it listed in 2018, two years after Garnett retired. Work continued on the property after it hit the market. Last year, a contractor sued Garnett claiming $173,000 in unpaid work.
The most recent listing from Hilton & Hyland’s Eric Hassan and Barbara Tenenbaum pitched it as an opportunity to “complete with style and finishes of your choosing or create your own dream compound.”
The unfinished home sits at the end of a gated drive off PCH. An expansive lawn stretches out at the rear of the home toward the ocean and includes a large pool.
The property is practically across the street from a beachfront estate that WhatsApp co-founder Jan Koum bought for $87 million in February, so far the priciest deal in L.A. County in 2021.
[LAT] — Dennis Lynch
The post Big Ticket scores big sale on unfinished Malibu estate appeared first on The Real Deal Los Angeles.
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