Hot Property: Maloof Cos. president sells Brentwood home at a loss
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Maloof Cos. President Joe Maloof has sold his Brentwood house for $4 million. Public records show he purchased the newly built home in 2004 for $4.75 million, so the sales price is nearly 16% less than he bought for five years ago.
The 6,100-square-foot gated home has five bedrooms, 5 1/2 bathrooms and a saltwater swimming pool.
There were 99 existing single-family home sales in Maloof’s 90049 ZIP Code during the first six months of the year at a median price of $1,725,000, according to MDA DataQuick. That was a price drop of 19.8% from the first six months of 2008.
In case the Maloof Cos. is off your radar screen, the family run business empire owns the Sacramento Kings and Monarchs basketball teams, the Palms Casino Resort in Las Vegas and other enterprises.
-- Lauren Beale
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