The Oppenheim Group, the luxury Los Angeles brokerage behind the popular Netflix series Selling Sunset, is expanding to Orange County with the opening of the firm’s second office, in Newport Beach.
The former Hobie Surf Shop at 3140 E. Coast in Corona del Mar has been converted into The Oppenheim Group’s new amenity-rich office, which will ultimately serve as a home base for agents, both new and existing.
The 4,000-square-foot office on PCH and Larkspur is being decked out to include a full bar, dining area, arcade and gym, among other features.
It’s expected to have a grand opening in late-March, but business has already kicked off for the company locally.
Newport Beach could serve as an extension for the show, too, with “a spinoff always a possibility,” founder Jason Oppenheim told the Business Journal.
“I’ve been thinking about opening a second office for years and Newport Beach is the perfect place to do so, especially since I was already going down there about once a week for deals,” he said.
Sunset Shoppers
The Oppenheim Group opened its first office in 2015 in Los Angeles, and it currently averages about $250 million in annual sales volume, according to Oppenheim.
The Newport Beach location is a natural expansion for the firm, which has noticed burgeoning demand for Orange County from its existing L.A. clientele.
“The confluence between L.A. and Newport Beach has never been stronger, especially during COVID as some homeowners are looking to sell their home in the city and relocate to less dense areas,” Oppenheim said, adding that he already has several local listings ranging in price from $8 million to $30 million.
“The Newport Beach office will have the benefit of working alongside our Los Angeles office to more broadly market listings and tap a wider client base.”
The Oppenheim Group typically lists homes priced at $2 million and above.
Though Newport Beach is a focus for the firm locally, no city in the county is off limits.
Now Hiring
The new office will be led by Matthew Peters, Oppenheim’s longtime friend and business partner, with Oppenheim splitting his time between the two offices.
Heather Rae Young, one of the stars of Selling Sunset and an agent in the company’s Los Angeles office, will also be working out of Newport Beach part time.
That shouldn’t come as a surprise to followers of the show as Young recently moved to Newport Beach with her fiancé, Tarek El Moussa, also a real estate reality star on HGTV’s Flip or Flop.
Oppenheim is looking to hire several other brokers for the Newport Beach office, though he prefers a more organic approach.
“This seems like one of those ‘if you build it, they will come’ things. I’m not someone who actively recruits brokers, but we’ve already received so many calls and inquiries from interested agents,” Oppenheim said, adding that the new office could employ anywhere from five to 50 agents.
“I really just care about hiring good people who are also experienced agents. While this is a business endeavor, it’s more about building something fun and continuing on the success we have had in Los Angeles,” Oppenheim said.
“Most brokerages are pulling back and reducing their office space, so it’s been fun to go against the grain.”
Spinoff Potential
The new office is expected to make appearances in the next season of Selling Sunset, which released its third season on streaming service Netflix last August.
Filming for the fourth season is likely to begin this spring.
“Newport Beach is going to be a part of Selling Sunset, and there’s always a possibility for a spinoff” potentially dubbed Selling Newport, Oppenheim said.
