Lately | Who's Buying the Fire Lots in Pacific Palisades, Malibu, and Altadena?
Many have been trying to keep lot sales to a minimum and working to sell, when necessary, to locals. However, investors have begun to scoop up scorched lots. In Malibu, the Mowbray brothers of Zuru Group and an anonymous foreign buyer have spent tens of millions on oceanfront land, eyeing new high-tech builds. Altadena has seen local ties, with lottery winner Edwin Castro’s Black Lion Properties and developers like New Pointe Communities leading acquisitions, though community groups are pushing back against bulk sales. In the Palisades, sales are moving a bit slower, with most lots trading below asking as the market recalibrates.
