An entity tied to Hankey Capital has bought a beachside Malibu mansion for $29 million, The Real Deal has learned.
The property at 28034 Sea Lane Drive is a 4,300-square-foot beachfront home just south of Paradise Cove, a wealthy swath that headlined several record-breaking home sales involving musicians Beyonce and Jay-Z and venture capitalist Marc Andreessen. The Sea Lane deal closed on Dec. 20, according to a deed filed in Los Angeles County records.
William McMorrow, chairman and CEO of commercial real estate firm Kennedy Wilson, listed the property for $55 million in October 2022. The three-bed, four-bath home has 90 feet of beach frontage and is located in a gated community, according to a listing on Redfin. McMorrow bought the property for $14.5 million in 2013, property records show.
An executive at Hankey Capital denied that his firm had any involvement in the purchase. However, the buyer on the deed, an entity called Pieradu LLC, is managed by Eugene Leydiker, Hankey’s chief counsel. The business address for the buyer is also identical to Hankey’s address on Wilshire Boulevard.
The home sits well outside the 23,448-acre perimeter for the Palisades Fire, according to data from the Los Angeles Times. The wildfires, which tore through Los Angeles earlier this month, have led to the death of more than 25 people. According to data from Redfin, a total of 6,354 homes within the perimeters of the Palisades and Eaton fires have been destroyed or damaged. That figure is equivalent to 14 percent, or about one in seven, of the total homes in the area.
The Sea Lane transaction was one in a series of high-priced deals that closed at the tail end of 2024. In December, the former home of Todd Phillips, the director of movies such as “The Joker” and “The Hangover,” sold for $35 million in one of Beverly Hills’ priciest home sales of the year. That same month, Sue Gross, the ex-wife of PIMCO co-founder Bill Gross, sold a Beverly Hills home for $33 million.
Hankey Capital, run by billionaire Don Hankey, makes loans in the $5 million to $300 million range collateralized by real estate, according to its website. Sister company Hankey Investment owns more than 1 million square feet of commercial properties in California. Last year Hankey made headlines for loaning Donald Trump $175 million to cover his appeal bond for a legal judgment.