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Investor Riaz Valani reportedly bought a Malibu beachfront estate for $31 million in an off-market deal in summer 2022. The sale was reported on December 5, 2022; the report does not specify a closing date.
What was reported about the purchase?
Global Property Inc.’s December 5, 2022 article, republishing a report by The Real Deal Los Angeles, identified Valani as the buyer and reported a $31 million purchase. It credited Dirt.com with identifying Valani. The transaction and property details below are attributed to that report, rather than presented as independently verified public-record findings. Global Property Inc., December 5, 2022.
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What is known about the property?
The report gives the address as 33608 Pacific Coast Highway in Malibu. It describes a 5,000-square-foot estate built in 1955 on three-quarters of an acre, with 125 feet of beach frontage.
Homes and layout
The property was described as having a two-story main house with three bedrooms and a two-story guesthouse with three bedrooms. The two homes together had four bathrooms, according to the report.
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Who sold the estate, and what had they paid?
The report names hedge fund investor Michael Price and his wife, Jodi, as the sellers. It says they bought the home for $19.8 million in 2016. Both the prior purchase price and the 2022 sale price are figures reported by Global Property Inc.; they are not independently verified here.
Was the home bought for Valani’s parents?
The article says records indicated the estate may have been bought for Valani’s parents, Badru and Semin. That is a reported possibility, not a confirmed purpose for the purchase.
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