Free-spirited fashion designer Betsey Johnson just bought nearly 2 acres of land in Malibu, where sh
Free-spirited fashion designer Betsey Johnson just bought nearly 2 acres of land in Malibu, where she plans to build a Hamptons-style saltbox home.
Johnson picked up the land for $2.9 million, according to the New York Post. Listing agent Terry Lucoff told the Post that the sellers originally had plans for a 6,200-square-foot Mediterranean-style mansion on the land, but later had the blueprints changed to a saltbox-style residence.
Lucoff described the sale to Johnson was “quiet, but not confidential.”
“The piece of property and the location is so exceptional, that before the property was even listed or in the MLS, it had two offers at asking price within five days,” Lucoff added. “The buyer loved the new plans and said she would continue with the home as the seller designed.”
The build-out projection for the new home is somewhere around $6 million to $6.5 million. [NYP] –Christopher Cameron
Source: The Real Deal