If anyone would know a good deal, it’s Los Angeles power agent Kurt Rappaport.
The home broker — who has worked with the likes of Tom Brady, Brad Pitt and Ellen DeGeneres among other high-profile clients — just expanded his personal Los Angeles portfolio with the purchase of a Malibu home. He negotiated a nice price for himself.
The 4,500-square-foot house on the beach originally hit the market for $42.5 million in 2022. Rappaport paid $22.5 million and plans to remodel the five-bedroom, six-bath pad.
The seller was Rallye Motors Group CEO Juliana Terian, who oversees luxury automotive dealerships that include Mercedes, BMW, Lexus and Acura in New York. Terian was represented by Carolwood Estates’ Cooper Mount and Coldwell Banker Realty’s Joyce Rey.
“I bought the property because it was a very charming and idyllic beach house on one of the best lots, in the deepest section of beach on Malibu Road,” Rappaport said of his purchase.
He would know.
The Westside Estate Agency co-founder ranked third in The Real Deal’s most recent list of the top agents and teams in Los Angeles County, with $691 million in volume across 15 deals. The ranking was based on MLS data between May 2023 and May 2024. The ranking did not include off-market deals or transactions below $1 million. If ranked based on average size per transaction, Rappaport would top the list with an average deal price of $46.1 million for the same May-to-May period.
The Malibu Road purchase is the latest addition to Rappaport’s expansive L.A. holdings.
He has owned more than 30 homes in the Los Angeles market. In Malibu, he sold his home sitting atop a more than 5-acre bluff for $120 million in 2018 to Canadian billionaire and Edmonton Oilers owner Daryl Katz. Rappaport paid $6.8 million for the land in 2007 before building a new home on the lot in 2012.
Rappaport currently resides in a Brentwood home sitting on 3 acres. Architectural Digest featured the Wallace Neff-designed property in 2022.
He also counts high-end rental properties in Los Angeles, commercial buildings in the Beverly Hills Triangle and the three-story, Art Deco building housing Funke. Rappaport opened the Beverly Hills Italian restaurant last year with chef Evan Funke.
There’s also a home he’s building at the private Caribbean resort community Barbuda Ocean Club, owned by Casamigos co-founder and Discovery Land Company founder Mike Meldman.
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The post Kurt Rappaport pads his portfolio with $23M Malibu deal appeared first on The Real Deal.
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