This is the mansion of Laurel Limoges on the new CW show Privileged. The show is set in Palm Beach and the home is supposed to be directly on the Atlantic Ocean, however, in reality it's oh a bluff in Malibu overlooking the Malibu Colony and the Pacific Ocean. The home is actually two separate properties immediately next to eachother: One owned by attorney and USC law professor Ilbert A. Phillips, and the other by Richard E. Weintraub, the president of Weintraub Financial Services.
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Links: www.malibulocations.com, realestalker.blogspot.com