On the day after Christmas in 2013, Leonardo DiCaprio finally sold one of his Malibu homes for $17.35 million. Two years earlier in November, he had listed the Cape Cod home compound for $23 million. He bought the property for $6 million in 2002 and previously tried renting it out at $150,000 a month for six months or less in the summer or $75,000 per month for a longer lease. He reduced the price after the 2013 summer rental season by $4.1 million.
While the numbers appear to show an $11.35 million profit, DiCaprio put an unknown sum into completely remodeling the home. The exterior was painted teal and nearly every interior wall in quiet shades of gray or white, neutral colors like real estate agents suggest to make a home more salable to a larger number of buyers.
The 23736 Malibu Colony Road compound includes an ocean facing main house with four bedrooms, a two-bedroom guesthouse, and a detached loft with gym, media room and office. It provides a total of 7 bedrooms and 6 baths over 2,633 total square feet. View pictures at Redfin.
The selling points of the property are the beach side location just west of the Colony gates and the lavish half-acre of grounds including a private beach, beach-front deck, hot tub, fire pit, lawn area and separate gardens. Being owned by a celebrity may bring more lookers to a property and command a higher price but does not necessarily sell them any quicker when real estate markets are slow. Many celebrities who have been waiting for their properties to sell may be encouraged by the Malibu Beach sale as the market seems on an upward trend. It was the highest priced sale for Arete Estates in 2013.
Although DiCaprio owns another Malibu beach house and a Hollywood Hills property purchased from Madonna, he lives in New York City most of the year in his eco-friendly Manhattan Riverhouse in Battery Park penthouse. Tyra Banks is a neighbor there. Word is out that Leonardo is searching for another Manhattan place.
The nearly 40-year-old bachelor, most recently known as wealthy playboy stockbroker Jordan Belfort in The Wolf of Wall Street is one of the highest-paid actors in Hollywood. He was nominated for a Golden Globe for Best Actor in a Comedy or Musical for the Belfort role in Martin Scorseses' latest film and is up as a producer if it wins Best Picture.
The millions made on the home sale are a drop in the bucket for DiCaprio and more than the $72,000 he made in one month in the attached video clip.