Savvy real estate investor, actor, producer, Leonardo DiCaprio, has paid one of President-elect Donald Trump’s cabinet picks $23 million for a nearly barren 1.8-acre Malibu beachfront lot, property records show.
The land is reportedly located on Pacific Coast Highway, in an exclusive neighborhood of celebrity-owned mansions, wedged in between Courtney Cox and Mark Burnett. However, the property features a small one-bedroom cliffside dwelling, the size of a modest Manhattan apartment.
The seller was none other than Mr. Trump’s pick for Army secretary, Vincent Viola, a billionaire investor, who bought the home back in 2006 from English film director Sir Ridley Scott for $11 million, according to property records. Mr. Viola’s son, Michael Viola, signed the home over Mr. DiCaprio's LLC, according to the deed.
It's not likely the star will be a part of the 'Tiny House' movement with this pricey beachfront paradise. But he will have the opportunity to create his own private sanctuary overlooking Paradise Cove.
Source: Mansion Global, Wealth X