A Linda Isle home that was built in 2004 for a member of this week’s OC’s Wealthiest list just traded hands for $14 million, records indicate.
Designed by architect Fleetwood Joiner of Irvine-based Avalon Architectural Inc., the 6,300-square-foot home has four bedrooms and five bathrooms, and dock space for an 85-foot yacht, according to listing data.
The waterfront property was built for auto dealer Fletcher “Ted” Jones Jr., who the Business Journal estimates to have a net worth of $625 million. He sold the house years ago.
Records show the current seller was former Herbalife executive Fred Siegel, who purchased the home in 2013 for $12.2 million. The buyer appears to have ties to one of the area’s largest homebuilders, records indicate.
Rockledge Sale, Too
Siegel listed the Newport Beach property late last year with an initial asking price of $16.9 million.
Last year, Siegel sold a separate home in Laguna Beach—known as Rockledge by the Sea—for $32 million to another member of our Wealthiest list, billionaire and co-founder of Pacific Investment Management Co., Bill Gross.
Cammy Leslie of Residential Agent Inc. held the listing for the recently completed Linda Isle sale. John McMonigle of Residential represented the buyer of the property, whose features include entry doors that are hand-carved mahogany and koa wood, and an entryway featuring a 26-foot waterfall in a semicircular shape.
There’s a billard room, great room with disappearing sliding doors to a terrace, and a more than 1,000-bottle wine cellar. The Crestron smart home system can also control the home’s electric window coverings, lighting, and built-in audio system.
Linda Isle is a bayfront gated community in Newport Beach that has 107 homes. Residents have access to a private beach clubhouse, tennis court, and playground.
