Shanghai-born Hong Kong multimillionaire Hiroshi Horiike is auctioning off the 5.35-acre coastal property where his notorious Malibu mansion stood before it burned down in the 2018 Woolsey Fire .
Once asking $29.8 million, the Malibu Park property at 30601 Morning View Drive, overlooking the ocean, Zuma Beach, Broad Beach and Catalina Island, will be auctioned with a reserve bid of $12.99 million.
Horiike paid $12.25 million for the Malibu beach mansion in 2007.
The sealed-bid auction will be conducted by Paramount Realty USA in collaboration with listing broker Shamon Shamonki of Sotheby’s International Realty.
Horiike — born Peng Hong Ling and…
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