Fred Segal: One House Down, One to Go

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The penthouse unit owned by high-end clothing retailer Fred Segal just fetched $3.3 million when it sold -- not quite the $4.995 million Segal was hoping for when he listed it in March 2010. Segal is still trying to sell off his Malibu home, a 6,000-square-foot mansion behind guard gates.

The 1,902-square-foot Laguna Beach penthouse is in the Laguna Royale complex along the Coast Highway. It's a one-level unit with three bedrooms and a large wraparound deck that maximizes ocean views and outdoor living. The 78-unit complex has a pool, spa, gym and 24-hour guard. The unit had been available for a six-month minimum lease at $11,500 a month.
It was listed with Suzanne Robinson of P.C. Properties.

In Malibu, Segal has listed his Serra Retreat Spanish-style estate at $8.95 million. The home has five bedrooms, a fab-u-lous kitchen and is pretty much an overall head-turner as far as homes go -- but the real beauty comes in the half-acre grounds. It's got a terrific pool and outdoor living room that is begging for a sophisticated party to be thrown. Hope we're invited.

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Chris Cortazzo of Coldwell Banker, Malibu, has the listing.

See more California homes for sale in Malibu and Laguna Beach on AOL Real Estate.

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