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Hollywood producer Jack Giarraputo seeks $31.5 million for Malibu spread

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Jack Giarraputo, the film producer who founded Happy Madison Productions with Adam Sandler, is hoping for another hit in Malibu. His 38-acre compound overlooking the Pacific Ocean is up for grabs at $31.5 million, records show.

If he gets his price, it’ll be the most expensive on-market sale the beach city has seen this year — beating out a Point Dume property that sold for $21.76 million in August, according to the Multiple Listing Service.

Known as Sweetwater Ranch, the coastal estate is found in Serra Retreat, a celebrity enclave that has lured Hollywood mainstays such as James Cameron and Kelsey Grammer. The parklike grounds are currently undeveloped but come with approved plans for a 12,000-square-foot modern mansion designed by Standard Architecture.

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Renderings show the stylish home sprawling across its hillside perch with indoor-outdoor spaces, warm wood finishes and walls of glass. A second-story entertainer’s deck takes in views of the Pacific.

Down below, renderings show a spacious backyard with a tennis court, reflecting pool and 75-foot infinity pool. The property’s lower plateau spans five acres and comes with plans for equestrian facilities such as a barn, riding arena, stables and pastures.

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After producing “Happy Gilmore” and “Billy Madison,” Giarraputo founded Happy Madison Productions with Sandler in 1999. In the decades since, the company has generated more than $4 billion at the box office with films such as “Little Nicky,” “Joe Dirt,” “Click” and “Grown Ups.”

Tracy Tutor and Gina Dickerson of Douglas Elliman hold the listing.

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