Designer and Builder Scott Gillen, who has created 22 extraordinary luxury properties and generated more than $130 million in sales, has purchased this rare, 24-acre property.

Selling at $50 Million, this undeveloped land has sold at a record price according to the Multiple Listing Service, with Coldwell Banker Global Luxury representing the buyer. The first day the property came on the market, Scott Gillen initiated contact with the owners through Coldwell Banker’s Sandro Dazzan, who represented him on the sale.

This new milestone sale elevates the Malibu property market to unprecedented heights, building on the powerful upward trajectory of the market. Malibu’s reputation as one of the nation’s most elite property markets has never been stronger following other recent sales including the $85 Million sale of David Geffen’s Carbon Beach compound and the $69.9 million sale of a Malibu estate on Sweetwater Mesa Road.

The coveted flat plateau of land offers 360-degree views of the Pacific coastline, Catalina Island, the Santa Monica mountains and city lights. This rare property will be transformed into a 24-hour manned guard gated community to offer the privacy and security that high-profile buyers seek.

Gillen plans to build 5 custom architectural estates, which are currently projected to start at $40 Million and range up to $60 Million. This bespoke residential enclave will be known as “The Case,” and will set a new high standard for Malibu with a combined listing price of over $300 Million. The homes will vary in size from 10,500 to 13,500 square feet, while the lots will span in size from 2.45 to 5.78 acres.

“The Case” will provide an unrivaled location to showcase Gillen’s award winning and sought after design aesthetic. For the first time in Gillen’s career as a designer and builder, he will work closely with an outside architect, Richard Landry.

Photos courtesy of Simon Berlyn, Sandro Dazzan and Coldwell Banker