Malibu resident Gil Segel has temporarily relocated to the Pacific Palisades after he reportedly sold his home on Pacific Coast Highway to actor Courtney Cox and her actor husband David Arquette for about $10 million.
But Segel, a pillar of Malibu’s slow growth movement, is not moving out of town for long. He is only gone temporarily and plans to come back to Malibu as soon as he can.
“We will still be in Malibu,” said Segel. “We definitely will not leave, we have too much of our hearts here.
“It’s too much a part of us,” he added.
As he spoke about his involvement in Malibu’s political arena, especially in the slow growth area, Segel said, “It’s a world consciousness. There is an environmental consciousness that is necessary to try and protect our lives.”
Public records do indicate that the home on PCH, which was formerly owned by this active Malibu political figure, transferred on March 29 to trustees Richard Shepard and James Stein, of Bring It Trust, which was established on Feb 14, 1996.
Compared to other beachside homes in Malibu, the $10 million property could be considered a bargain.
Recently, a Pacific Ocean beachfront property, which belonged to Mark Hughes, founder of Herbalife International, was on the market for $31 million.