Following in the home-flipping tradition of buying low and selling high, Miami developer Robert Livani is betting he can achieve the feat in one of Southern California's most expensive neighborhoods: Malibu's Billionaire's Beach.
The flamboyant, mohawk-wearing developer behind the Black Lion Investment Group has put a $42.5 million mansion on Malibu's Carbon Beach, nicknamed Billionaire's Beach, for sale, The Wall Street Journal reported.
Neighbors include business titans such as Larry Ellison and Jeffrey Katzenberg.
Livani demolished the 1920s home, leaving only the framework, and plans to complete the Aman-resort-style renovation at 22102 Pacific Coast Highway by the first quarter of 2024, according to The Wall Street Journal. The project is currently under construction.
Like any savvy home flipper, Livani is looking to make a tidy profit. He bought the 4,900-square-foot beachfront home for about $20 million in May 2022. Livani bought the home, which was in need of some gold-plated repairs, from TV executive Michael Lambert.
Chris Cortazzo of Compass will serve as the real estate agent.
Livani could get a bonus if he flips the home: An anonymous friend bet him a seven-figure sum that he can't flip the exclusive address. If Livani fails, he'll have to pay off a gambling debt to his friend. The project will be Livani's first luxury home flip, according to The Wall Street Journal.
When Rivani's renovations are complete, 22102 Pacific Coast Highway will feature a green wall facade, Zen gardens, a sunlit infrared sauna and a cantilevered hot tub.
– Andrew Ash
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