This year has brought changes to the residential portfolios of some of Orange County’s wealthiest residents.
Much of that shift is happening outside of Orange County, brokers note.
LoanDeposit founder Anthony Hsiehwho was behind OC’s top luxury deal of 2020, has added to his out-of-state portfolio this year, in a series of deals that appear to have seen him change his primary residence from OC in Miami, sources say.
The lending executive, whose Business Journal net worth is around $1.3 billion, paid $30 million for a beachfront estate and another $19.5 million for a luxury condominium, both in Miami, earlier this year.
Hsieh, who stepped down as CEO of loanDepot and became executive chairman in April, now lists his hometown as Miami on his LinkedIn page.
It’s unclear whether Hsieh plans to sell his Newport Coast home, which he paid $61 million for in October 2020.
In the larger of the two Miami deals, Hsieh bought a waterfront mansion at 34 Star Island Drive in Randy Smithchief investment officer of the new york hedge fund Alden Global Capitalwho owns the Orange County Registry and many other newspapers.
The nearly 5,500 square foot home sits on a 40,000 square foot lot with waterfront frontage and features nine bedrooms and nine-and-a-half bathrooms after a major expansion and renovation project completed by the sellers precedents, according to real estate investors Roni and Samuel Jacobson.
The house was listed as available to rent for $150,000 per month on the real estate website Zillow.
Hsieh spent nearly $20 million more on a unit to Thousand Museum, a 62-story condominium tower in downtown Miami. The tower opened in 2019 with 84 units; other owners at Zaha Hadid– the designed building includes the singer Mark Anthony and soccer star David Beckham.
Hsieh’s unit would be on the 52nd floor.
Lake Forest-based LoanDepot has purchased the naming rights of the Miami Marlins baseball stadium last March and has since renamed the site to loanDepot Park. Financial terms were not disclosed.
Crystal Cove Recording
Hsieh currently owns 15 Del Mar at Crystal Cove, which set a new local record when it was sold in 2020. That record has since been broken by a $70 million sale at Abalone Point in Laguna Beach (see story, page 1) .
The Crystal Cove Estate sprawls north of 18,700 square feet on 0.6 acres of land and includes six bedrooms and 12 bathrooms.
Compass Rob Giem represented the seller; Coldwell Banker Realtyit is Tim Smith represented Hsieh in the 2020 contract.
Beverly Hills List
Meanwhile, billionaire philanthropist Sue Gross maintains her holdings in the area while looking to sell properties outside the area.
Gross, who owns five homes in Irvine Cove, including three in Abalone Point, is looking to sell two of his homes in Los Angeles.
A Beverly Hills home that spans 5,367 square feet on a half-acre lot recently hit the market for $17.5 million. Gross paid $16 million for the home last November.
Gross reportedly owns two other homes next to the just-listed estate, one of which is also on the market.
The house, which according to reports was previously owned by Ellen Degeneres, is on the market for $28.9 million. Gross paid $35 million for the nearly 5,300 square foot home in 2018.
A third Beverly Hills home that Gross paid $20 million for in 2018 is not currently on the market.