Just four months after it first listed at $ 68 million, a mansion was opened in Orange County‘s Newport coast Neighborhood still sold a staggering $ 61 million, the LA Times reported first. Records show that the billionaire buyer is the buyer Anthony Hsieh, the high profile Taiwanese-American business tycoon who founded LoanDepot, the Orange County’s mortgage juggernaut who pays for itself as the fifth largest private mortgage lender in the country, having funded nearly $ 250 billion in loans since its inception in 2010.
The US $ 61 million sale price is multi-million US dollars the highest ever paid for an Orange County home and one of only three residential deals to ever exceed the US $ 50 million mark. Earlier this year, businessman Glenn Stearns Paid $ 50 million for the architecturally vague Newport Coast Megamansion by author Dean Koontz; Car billionaire Larry Van Tuyl already spent $ 55 million on a two-house property in Corona del Mar in 2018.
The house was built and sold by Mark Donegan, the former CEO of the industrial goods giant Precision Castparts. The multi-storey building, completed in 2017, can best be described as a modern Mediterranean mega-villa with six bedrooms and a total of 11.5 bathrooms on almost 19,000 square meters of living space. According to the listing, there is also a villa-sized, 6,800 square meter underground car park that can easily swallow 12 luxury vehicles. An infinity pool, a huge inner courtyard and glass walls are just some of the many amenities the house offers.
But perhaps the most surprising thing about this $ 61 million Orange County property is that it’s not on the ocean – nor near the water. The 1-acre property sits in the hills well above the Newport coast and is at least a good 10-minute drive from the beach, though there are stunning ocean views from almost every room in the house. The property sits in the 24/7 gated Crystal Cove development, the mansion-filled enclave home to local and international billionaires, including a remarkably large percentage of homeowners who are from mainland China. For the privilege of living behind the exclusive gates of Crystal Cove, Hsieh pays $ 2,500 monthly in HOA fees.
In any case, Hsieh doesn’t need an oceanfront home in Newport Beach. That’s because he already owns one – in fact, since 2014 when he paid $ 16 million for an 8,000-square-foot Mediterranean mansion on Linda Isle, the guarded island overlooking Newport Harbor.
An avid sailor and fisherman who is also something of a LinkedIn social media celebrity – his relentlessly frequent posts and activities on this platform have become the stuff of online legend – Hsieh once also owned another mansion on Newport Coast. Records show that in 2015 he sold this store for $ 9.4 million to its current owners: the Merage clan, the Iranian-American billionaire family best known for inventing hot pockets.