It could be the end of an era for live theatrical performances in Malibu. The little 99-seat Malibu Playhouse theater, which has been the home of live local theater performances since 2002, went on the market last summer and is currently in escrow with an offer.
Real estate listing agent Shen Schulz, with Sotheby’s International Realty – Malibu/Point Dume brokerage office, has confirmed to The Malibu Times the Malibu Playhouse property, located at 29243 Pacific Coast Highway, is in escrow with sale pending. The list price is $4.9 million.
The six-and-a-half acre landscaped property consists of the 99-seat Malibu Playhouse theater building (formerly a church and a recording studio), a plant nursery (business not for sale), a ranch house converted into an office building with four office suites, a kitchen and two baths, a detached out-building with ocean view deck, and a 50-space tree-lined parking lot.
An online listing for the property suggested that potential buyers could: “Build a luxury estate, add a pool, expand the business opportunities, [or consider] future leasing possibilities.”
Julia Holland, managing director of the playhouse, said in a phone interview the Realtor is keeping mum about the buyer and what their intentions are for the property. She heard that the property will close in mid-December, assuming the deal proceeds.
If the sale is finalized, then several ongoing theater programs will have to look for a new home. Paula Mae Schwartz, the new co-chair and executive producer of the Malibu Playhouse along with co-chair and producer Cody Lassen, was off to a fantastic start with last month’s world premiere of the play, “Life Expectancy: A Comedy in Three Trimesters.”
Two acting programs for young people will also be at risk — the Once Upon a Time Children’s Theater and the Young Actors Project.