Dean Factor, the great-grandson of late cosmetics mogul Max Factor, has sold his Malibu home for $37.5 million.
The property, located at 23816 Malibu Road, changed hands in an off-market transaction, according to a source with knowledge of the deal. The buyer is The Boathouse Trust, an entity managed by Enza Cohn, an accountant at business management firm Gelfand Rennert & Feldman in Century City. The trust is funding the purchase with a $27 million mortgage from City National Bank.
The estate, which sits on a 0.4-acre lot, contains a three-bedroom, 3.5-bath main residence and a three-bedroom guesthouse. Factor listed the property in January with an asking price of $40 million. It was previously on the market as a rental for more than a year. It was most recently offered for lease at $100,000 per month.
Factor and his wife Shannon have owned the property for more than a decade. They bought the home for $15.3 million in 2010.
Factor, along with his brother Davis, founded makeup brand Smashbox Cosmetics in 1996. The company is a sort of continuation of family lineage. Their great-grandfather Max Factor “is considered by many as the father of the modern cosmetics industry,” according to a 2000 profile from The New York Times. The eponymous make-up brand that bears his name is now owned by French company Coty.
The brothers also founded Los Angeles photography studio Smashbox Studios, which has hosted runway shows for Los Angeles Fashion Week.
In 2019, Factor sold a mansion in the Rustic Canyon area of the Pacific Palisades for nearly $13.9 million. The entity that bought the home, which was tied to a local parking management company, later rented the property to actress Jennifer Garner, according to media reports.
Chris Cortazzo at Compass had the listing for 23816 Malibu Road. He declined to comment.