Cox Arquette sells in Malibu

Good morning. Frank McCourt, who owns the Dodgers, has bought the Courteney Cox Arquette Malibu home designed by John Lautner for "close to $33.5 million."

Cox Arquette and husband David Arquette bought the 5,500-square-foot house six years ago for "nearly $10.2 million," so they made an excellent profit.

The house, glorious and famous as it is, sat on the market for more than six months -- the celebrity news site TMZ.com reported it was for sale back in January. It was originally listed at $33.5 million.
Thoughts? Comments?
Photo Credit: DupontRegistry.com

Comments

[willie]

I've just noticed the median price for a home in L.A. County going up another notch. With these prices, the real world seems unreal! They should put these houses under a different category altogether since it is not a reflection of the actual market for us mortals.

[www.BetterVillage.com, XYZ, PDq.]

Let's put a reminder in our calendars to check and see if this has been sold again in 3-6 months. Could be McCourt is trying to hit one out of the park. Wonder if it was purchased with his own money as well, or if he's just a straw man (is he going to be living there?). Whatever the case, it's all very hot dogs, apple pie, and red white n' dodger blue.

[Lisa]

I guess jacking up the parking fees at Dodger Stadium by 50% has worked out well for the McCourts. I'm off to the Stadium today, where I will refrain from drinking a $12 beer.

[Westside Bubble]

That'll be quite a check to the IRS: ($23 million gain - $ 500,000 tax-free) x 15% = about $3.4 million! Plus a couple million more to the state.

I wrote about it back at the beginning of my blog in February, with added links to Curbed LA's photos, at http://westside-bubble.blogspot.com/2007/02/malibu-lautner.html .

[vultur]

One has to believe that this is not accurate. How could the property TRIPLE since 2001? I suspect the report is greatly exaggerated.