Real estate investor, entrepreneur and exotic car collector Manny Khoshbin is ready to peel away from his Pelican Hill mansion on Fairway Point called “Villa Papillon” or Butterfly Villa—a home brimming with fine finishes and an underground 3,570-square-foot showroom garage.
Property records show the founder of Irvine-based commercial real estate firm The Khoshbin Co. listed his 13,532-square-foot estate in Newport Beach this month for $33.9 million.
The home has seven bedrooms, eight bathrooms and sits on a double lot with 228 feet of “prime view frontage,” according to listing details.
There’s also Murano glass chandeliers, opalescent Venetian plaster, rare blue slab onyx, Greek Thassos marble with pearl inlays and 24-karat gold Sherle Wagner faucets.
The home theater is upholstered in red velvet and the cabana room takes its design inspiration from the Polo Lounge at the Beverly Hills Hotel. There’s also a cocktail and cigar bar, master suite with dual “designer-boutique influenced” dressing rooms.
Outside is equally extravagant with covered, heated loggias with media amenities, a fireplace, pool and spa, volleyball court, koi pond, as well as an outdoor kitchen and dining area.
Khoshbin’s company buys and repositions commercial properties and has a portfolio of more than 2 million square feet, according to the company’s website.
The company’s last big reported local deal was in 2016, when it bought a three-building portfolio of Newport Beach properties, including two waterfront retail properties on Coast Highway, in a deal reported at $28.9 million.
He and his wife, model and founder of Milani Hair Extensions, Leyla Milani, purchased the Pelican Hill home in 2017 for $19.6 million, according to property records.
Khoshbin, who started selling used goods at the swap meet after emigrating from Iran to the U.S. at 14, scooped up the home from another local self-made millionaire—Glenn Stearns, founder and former chief executive of Stearns Lending, and his wife, actress Mindy.
Rex McKown and Marcy Weinstein of Surterre Properties Inc. have the listing. They declined a request for comment.
Signing Off
A Pelican Hill property on Premiere Point is on the Multiple Listing Service for the first time since its construction nearly 20 years ago with an asking price of $13 million.
The 8,524-square-foot home with a palatial foyer has five bedrooms and five bathrooms, as well as a detached two-story guest house, which visitors pass through as they enter the courtyard gates.
The more than half-acre site is linked to former Broadcom general counsel David Dull and wife and owner of Laguna Beach accessory store The Passionate Collector, Susan Shieldkret, according to property records.
Entering the main level, guests will find a formal living room, dining room with doors leading to the front courtyard, an executive office with private patio and guest suite. There’s also a 1,143-square-foot garage, laundry, powder room and great room with a fireplace and bar.
Upstairs is a master suite with an oversized spa bedroom, walk-in closet, sitting area, fireplace and folding doors leading to a large covered terrace. The upper level features a common area space and theater.
The home is extensively landscaped and has water features, outdoor fireplaces, a dining area and covered barbecue, as well as an infinity pool and spa.
Listing details show the home last sold in 2000.
Rex McKown and Marcy Weinstein of Surterre Properties also have this listing.
Ground Up
Costa Mesa-based firm Brandon Architects is offering an under-construction home in Corona del Mar for $25.9 million, but the property won’t be completed until 2020.
The 9,129-square-foot home at 2201 Bayside Drive on Newport Harbor will have five bedrooms and six bathrooms spread across four levels.
It will have a private beach, lap pool built into the home and shared ownership of one of the longest private piers in the region—able to accommodate a 100-foot and 75-foot yacht, according to listing details.
Newport Beach-based firms Patterson Custom Homes is the builder with interior design by Brooke Wagner Design. The home will have a nearly 3,000-square-foot five-car garage, office, rooftop cabana with media room, spa, barbecue and fire pit. There will also be an elevator, subterranean bar, wine room, beach room, as well as a roughly 1,900-square-foot master wing with sitting room, walk-in closets, private wrap around balcony and bathrooms with one offering slide-away walls.
Tim Smith of Coldwell Banker Residential Brokerage has the listing.
