World · India Bureau
NBA Legend's Malibu Estate Relisted at $48 Million After Renovation
A luxury oceanfront property in Malibu formerly owned by basketball icon Kevin Garnett has been relaunched on the market for $48 million following an extensive renovation. The Pacific Coast Highway residence, which had faced legal complications and a failed sale attempt, has now been transformed into a fully completed residence.
LSN India ·
The Malibu mansion, originally acquired by the NBA Hall of Famer for $6.4 million in 2003, has undergone significant development and transformation over two decades. Garnett's initial vision for the property involved constructing a custom home, though the project remained incomplete for several years, ultimately complicating the asset's marketability.
The property previously entered the sales market with a $16 million asking price but failed to achieve a transaction, with the estate also becoming entangled in legal disputes that delayed its completion. These circumstances left the luxury residence in limbo as development challenges mounted.
The comprehensive makeover has now positioned the oceanfront property as a high-end residential offering. With its beachfront location along the renowned Pacific Coast Highway, the estate represents one of Southern California's sought-after real estate segments, catering to investors and affluent buyers seeking premium coastal properties.