Crown Pointe Confirms “Net Zero” appetite with $29M Malibu Sale
This transaction represents the second property sold in Crown Pointe’s Zero Series of carbon-neutral projects, following the first home’s sale for $23 million in 2022. According to Scott Morris of Crown Pointe, the developer sees this sale as evidence that some buyers are willing to pay a “green premium” for sustainable products, including clothing, cars, and residences.
According to the Real Deal, the all-electric home is located at 11809 Ellice Street and spans 16,489 square feet, made with materials such as sustainably sourced lumber, recycled aluminum roofing, low-carbon concrete and solar panels. Zero Two features six bedrooms and 12 bathrooms, with a glass bridge running from the main compound to a guest house. An organic fruit orchard, basketball court, tennis court and putting green are among the home’s outdoor amenities, according to Zillow.
Crown Pointe Estates is behind the 80-acre Marisol Malibu development, which totals 17 properties. Fifteen of those properties have sold, with eight — including the Zero Series — built by Crown.
Two more homes are planned for the Zero Series, although timing of the groundbreakings and completions have not yet been determined, according to Morris.