A gated Newport Coast estate in the middle of a down-to-the-studs remodel and expansion set a 2025 record sales price for Orange County last week when it traded hands in an off-market deal.
The closing price was $42 million.
That it was mid-construction is “the shocker for everybody” because “the house is basically a shell,” said the seller’s agent, Paul Daftarian of Luxe Real Estate.
He also represented the buyer on the previous highest-selling home in Orange County this year, a $37 million Palladian-style mansion at the other end of the same guard-gated Pelican Crest community as this one. In a video posted on Instagram last week, Daftarian opened the front door to reveal the remodel in progress.
Originally built in 2010, the house sits on a nearly three-quarter-acre, pie-shaped lot. It offers front-row views of the golf course, whitewater, ocean and coastline, stretching from San Clemente to the Palos Verdes Peninsula.
Daftarian added you can catch glimpses of downtown Los Angeles, all without any nearby rooftops to obstruct the view.
A collaboration between C.J. Light Associates, Frank Berry Designs and Chris Miller of PMR Construction, initiated by the previous owner, is giving the Italian villa-style home a modern take with simple, clean lines.
Records show the property sold in January 2023 for $30.6 million, marking the first major sale of that year. A signed deed accessed through PropertyShark.com reveals Amir Neshat, the founder of Liberty Dental Plan Corp., was the previous owner of the property.
Daftarian did not disclose his client’s name, only that he “had a change in circumstances in life” and “decided to relocate outside of California.”
Once he knew what it could fetch, Daftarian and his colleague, Michael Balliet, marketed the property to key agents in Orange and L.A. counties.
“A lot of buyers we showed the house to, they couldn’t wrap their head around what it would look like once it was completed,” he said, adding that the new owner is from outside the area and has experience with high-end homes under construction.
County records show the buyer’s name is concealed through the limited liability company, Sea Vista Holdings.
An email from Plus Real Estate, whose agents Rob Giem and Garrett Rau represented the LLC, states that “the estate is being transformed into a nearly 17,000-square-foot mansion.”
The house originally spanned 13,437 square feet with seven bedrooms and 11 bathrooms. It backed up to a pool, spa and cabana equipped with an outdoor kitchen. Down a flight of stairs sat the subterranean seven-car garage.
A detached casita was included in the overall living space.
While the house is still a work in progress, Daftarian claimed on the video that when completed, “it will probably be worth $100 million.”
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