Dallas Mavericks owner and longtime fixture on ABC’s “Shark Tank” Mark Cuban scored a new vacation spot in Laguna Beach for $19 million.
The billionaire purchased a contemporary-style home at Montage Residences, a community of 13 homes next to the glitzy Montage Resort & Spa. The community HOA fee runs about $1,600 a month.
It’s the first area property that Cuban is known to have bought in Orange County.
It’s also the highest sale in the Montage over the past year, according to listing agency Villa Real Estate.
Property records show the deal tops a $17.5 million sale nearby that closed in December.
The 7,867-square-foot home has six bedrooms and seven bathrooms. Built in 2010, the estate features a floating glass staircase, media room, bar and glass-enclosed wine cellar, as well as an outdoor pool, barbeque grill and fire pit.
Mahogany and glass doors throughout the home also slide back to create an indoor-outdoor vibe in the common living areas. It also has a state-of-the-art electronic system for controlling lighting and audio visuals.
The home listed in January last year with an asking price of $25.9 million. It last traded hands in 2012 for $20 million, according to property records.
Cuban, whose net worth Forbes pegs at an estimated $3.9 billion, will also have access to the hotel and its amenities such as in-room dining, use of the fitness center and resort pool, concierge, housekeeping and room service.
John and Tyler Stanaland of Villa Real Estate held the listing. Tim Smith of Coldwell Banker, who also brokered the $17.5 million sale in the community two months ago, represented the buyer.
Neighborly Love
A recent $6 million price chop for the listing at 11 Montage Way could mean Cuban will be getting a new neighbor in the swank community, though it’s still likely the buyer will drop a few million more than the Mavericks owner.
The 9,500-square-foot home is now asking $32 million after being relisted in mid-2018. Last summer, it had an asking price of $38 million.
It’s not the first price cut for the home, which was first placed on the market in 2015 with an asking price of $45 million.
The property is on the front row of the Montage Residences community, offering ocean views, and counting five bedrooms and six bathrooms. A floating staircase connects the two-story home that also has an office, chef’s kitchen, family room with fireplace, bar, wine cellar, home theater and gym. There’s also an outdoor lanai with a one-story waterfall, pool and spa.
Built in 2010, the home’s finishes include natural stone, mosaic tile and illuminated slabs of onyx.
An entity linked to founder and former chief executive of Diamond Resorts International Stephen Cloobeck purchased the lot in 2007 for $10.5 million from investment banker Michael Dovey and his ex-wife and Yahoo! Inc.’s former president Susan Decker, according to property records.
John Stanaland of Villa Real Estate holds the listing.
Personal Touch
A trust tied to a longtime executive at Orange County’s second-largest landowner and ranch developer, and a member of the Business Journal’s OC 500, found a piece of land in Corona del Mar, according to property records.
An entity with ties to Rancho Mission Viejo LLC President and Chief Operating Officer Donald Vodra, recently purchased a 4,493-square-foot farmhouse-style home in the community of Cameo Highlands for $7.4 million, records show.
The home offers private beach access and has four bedrooms and four bathrooms. There’s a separate office, wine room and custom gourmet kitchen with marble countertops. The property also has an outdoor fireplace and fire pit with a three car garage.
It previously sold in 2016 for $6.4 million.
Kim Walker and Mollie Butcher of Surterre Properties Inc. held the listing. Mark Nichols of HOM Sotheby’s International represented the buyer.
