According to property records, LoanDepot CEO Anthony Hsieh is the new owner of a $61 million Newport Coast mansion, the most expensive residential property ever sold in Orange County.
The $61 million deal overshadows Glenn Stearns’ $50 million purchase of Dean Koontz’s nearly 30,000-square-foot Newport Coast estate in an off-market deal in June.
Most surprising: it isn’t a front-row home on the ocean.
“There are amazing houses on and off the water in Orange County,” listing agent Rob Giem of Compass said by text message Tuesday. “This one has an amazing view. The house, too, is spectacular.
Located in guard-gated Crystal Cove, the 18,717-square-foot residence closed Monday, Oct. 26 for about 10% less than the $68 million asking price originally sought in June.
“I’ve been saying for years that Orange County is the most undervalued major metropolitan area in the United States,” said Tim Smith of the Smith Group at Coldwell Banker Realy who represented Hsieh. “COVID has single-handedly changed that. COVID has made people rethink how they want to live and how important it is where they live.”
But the location was just one in a list of attractions for Hsieh and his family.
The home, completed in a contemporary Mediterranean style in 2017, has six bedrooms, 12 bathrooms and an open floor plan for seamless indoor-outdoor living.
“An 80-mile wide panorama of ocean, coastline and city lights unfolds before you from every major room,” the listing read.
It also has a gym, home theater and a sauna among the home’s interior features.
Outside, the house shares its nearly one-acre manicured grounds with a separate guest house, a central courtyard and a negative edge swimming pool with built-in lounge chairs.
An additional 6,800 square feet of garages for more than a dozen cars cap off the residence.
“It’s one of a handful of the nicest and best-built homes that’s ever been on the market,” Smith said. “I think it was a tremendous deal for the buyer. And when I say that, I mean there are plenty of people in Orange County that have way over $61 million in their home.”
And he believes it won’t be long before sales top $100 million-plus.
Variety first reported Hsieh as the buyer, which SCNG verified through records.
Hsieh, 55, is the founder of LoanDepot, a Foothill Ranch-based nonbank lender that offers mortgages and other direct-to-consumer loans. The company has funded more than $248 billion since its inception in 2010. In September, the company reportedly was considering an initial public offering at the end of the year.
