A $30 million sale has crushed the record for the most expensive real estate deal in the San Fernando Valley and Calabasas. The title was previously held by Khloé Kardashian, who sold her Calabasas home for $15.5 million in November. The sale, which closed Tuesday, also bests the $20 million Nick Jonas paid for his Encino home in 2019. The residence now holds the record for the highest price per square foot of any home ever sold in Calabasas.
With eight bedrooms and 14 bathrooms, the contemporary-style residence — initially listed for $34 million in October — was built in 2020 by seller Elite Investment Management Group LLC, a developer in Beverly Hills and Bel Air; this is reportedly their first project in Calabasas.
Damon Skelton of Compass Malibu represented the buyer, who remains anonymous for now. While we have yet to learn the name of new owner, we know they will be neighbors with celebrities like Drake and Miley Cyrus, who have homes in the area.
Realtor to the stars Fridman says the home’s exceptional and rare ridgeline offers some of the best vistas in all of Calabasas.
“This is one of only 16 lots overlooking Malibu Canyon, which is part of the protected Santa Monica Mountains Conservancy, making it a trophy property. The property is also the only contemporary home out of the 54 homes in the double-gated celebrity enclave. Its sleek architecture coupled with Michael Palumbo’s exceptional design and bespoke materials delivers a striking masterpiece like none other,” Fridman adds.
Branden Williams says the seller was motivated to build a home in Calabasas that would command a price to raise the bar for the exclusive enclave. “Prado De Felicidad goes down in history for doing just that — as the most expensive home ever sold in the San Fernando Valley,” Branden Williams says.
The residence at 25354 Prado De La Felicidad features a French Modern exterior, a modern wine room, a home theater, a wellness spa, a basketball court and a putting green. The home has a 10-car garage and an infinity-edge pool.
Conceived by Michael Palumbo Design, the tri-level home has a slate roof and lime-based plaster stucco. The interiors feature bespoke furnishings imported from Italy, wood floors and top-tier Italian cabinets.