The housing market was stunned when Gary Winnick’s Bel-Air estate, Casa Encantada, was listed for $250 million, on track to become the most expensive listing in the United States. But another home has hit the market in Los Angeles, cracking the top five most expensive homes on the market.
25168 Case Court in Malibu was first listed on June 21 for $95 million.
Nicknamed “The Butterfly House,” the house is 10,000 square feet on more than three acres. In terms of price, it ranks behind currently listed homes, such as 33550 Pacific Coast Highway in Malibu, which has an asking price of $195 million. Elsewhere, 869 Tione Road in Bel-Air has an asking price of $185 million, and 594 South Mapleton Drive in Holmby Hills has been on the market since January for $155 million.
The butterfly house is listed for sale by Stephen Shapiro and Kurt Rappaport of Westside Estate Agency. This is the latest residence to hit the market as part of The Case, a luxury project of five custom homes led by developer Scott Gillen.
The Butterfly House is currently the most expensive of the Keyes mansions. The cantilever residence at 24185 Case Court was listed for about $70 million on June 14. It’s officially listed by Tyrone McKillen and Tal Alexander.
Its neighbor, The Flat house at 24188 Case Court, has been on the market under contract since September 2022 for $60 million. The listing broker is Sandro Dazzan of The Agency. The apartment was purchased before construction was completed. The deal is finalized when the house receives a certificate of occupancy, Dazan said.
Butterfly House won’t remain the most expensive listing in The Case for long. Glass tunnel houses are planned to debut on the market in the near future. The Glass Tunnel covers approximately 6 acres, roughly twice the size of the Butterfly House. At 12,500 square feet, it has more living space, Gillen said.
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Gillen said the Los Angeles market will see more sky-high prices for high-end luxury goods due to insufficient inventory.
“That’s an unheard of price in the past,” he said.
