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Investor Riaz Valani reportedly bought a Malibu beachfront estate for $31 million in an off-market deal during summer 2022. The transaction was described in a report published on December 5, 2022; no specific closing date was given.
What the report says about the sale
Global Property Inc. republished a The Real Deal Los Angeles report identifying Valani as the buyer, crediting Dirt.com with identifying him. The account describes the purchase as an off-market transaction. Its buyer, price and property details are reported claims, not independently verified public-record findings.
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Global Property Inc., “Vape billionaire Riaz Valani buys $31M Malibu estate,” December 5, 2022.
Reported property details
The estate is identified as 33608 Pacific Coast Highway, Malibu. The report describes a 5,000-square-foot property built in 1955 on three-quarters of an acre, with 125 feet of beach frontage.
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Two houses, six bedrooms
The reported layout comprises a two-story main house with three bedrooms and a separate two-story guesthouse with three bedrooms. Together, the two buildings have four bathrooms, according to the account.
Reported sellers and earlier purchase
The report names hedge fund investor Michael Price and his wife, Jodi, as the sellers. It says they bought the property for $19.8 million in 2016. These sale and prior-purchase figures are as reported by Global Property Inc.; the account does not provide independent deed verification.
Rank #2
Who may have been intended to live there?
The article says records indicated the home may have been bought for Valani’s parents, Badru and Semin. It presents that as a possibility, not a confirmed purpose for the purchase.
Quick Recap
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