Nancy Daly, wife of ex-Los Angeles Mayor sells beach front home

Even though Malibu contains some of the most expensive Real Estate in the world, a sales price of $50 million still causes quite a stir.

Carbon beach is known for its white sand and warm ocean waters…as well as being a chance to spot the rich movers and shakers in the worlds of finance and show business - In fact, it has even been dubbed "Billionaires Beach" by some.

It is on this stretch of white sand that Nancy Daly, the wife of ex-LA Mayor Richard Riordan quietly sold her beach front compound for the princely sum of $50 million - thats right, $50 million and yes I said, quietly.

The buyers identity still remains a mystery, however their profession will fit right in with the neighbors. A hedge fund manager and his wife have been reported to have coughed up the staggering sum for this palatial property. Neighbors include the founder of Dreamworks and an ex-Yahoo CEO.

The property is 15,000 square feet and its literal "multi-million dollar" lot is Nancy Daly’s own doing. She combined smaller lots to great this mega lot, for the mega house.

If you are considering purchasing a home on Carbon Beach or in any other part of Malibu, Pacific Palisades or Beverley Hills Post Office then please call Judy Kunisaki on 310-317-8396.

UPDATE March 5th 2008: This rumoured sale did not occur despite being reported in the local and regional press. See the updated Blog post here.

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