Great-Grandson Of Cosmetics Mogul Max Factor, Has Reportedly Sold His Malibu Property For $37.5 Million in A Transaction That Was Off-Market.
By Zach Armstrong
Dean Factor, Great-grandson of cosmetics mogul Max Factor, has reportedly sold his Malibu property for $37.5 million in a transaction that was off-market.
The Boathouse Trust, managed by Gelfand Rennert & Feldman accountant Enza Cohn, was the buyer and had secured a $27 million mortgage from City National Bank to fund the purchase.
The property sits on a 0.4-acre plot. It features a three-bedroom, 3.5-bathroom primary residence and a three-bedroom guesthouse. Factor listed the property for $40 million earlier this year, after being on the rental market for over a year. The estate was most recently available to lease for $100,000 every month.
Factor and his wife, Shannon, have owned the residence for more than 10 years. They bought the estate for $15.3 million in 2010.
