This year has brought changes to the residential portfolios of some of Orange County’s wealthiest residents.
Much of that change is occurring outside of Orange County, brokers note.
LoanDepot founder Anthony Hsieh, who was behind OC’s top luxury deal of 2020, added to his portfolio outside of the state this year, in a series of deals that appear to have resulted in him changing his primary residence from OC to Miami, sources indicate.
The lending executive, whose net worth the Business Journal pegs at around $1.3 billion, paid $30 million for a beach estate and an additional $19.5 million for a luxury condominium, both in Miami, earlier this year.
Hsieh, who stepped down from the CEO role of loanDepot and became executive chairman in April, now lists his home city as Miami on his LinkedIn page.
It’s unknown if Hsieh plans on selling his Newport Coast home, which he paid $61 million for in October 2020.
Miami Buys
In the larger of the two Miami deals, Hsieh bought a waterfront mansion at 34 Star Island Drive from Randy Smith, the chief investment officer of New York hedge fund Alden Global Capital, which owns the Orange County Register and many other newspapers.
The nearly 5,500-square-foot home is on a 40,000-square-foot lot with dock frontage, and includes nine bedrooms and nine-and-a-half bathrooms after a major expansion and renovation project completed by the prior sellers, according to real estate investors Roni and Samuel Jacobson.
The home was listed as available to rent for $150,000 per month on real estate website Zillow.
Hsieh spent nearly another $20 million for a unit at One Thousand Museum, a 62-story condominium tower in downtown Miami. The tower opened in 2019 with 84 units; other owners at the Zaha Hadid-designed building include singer Marc Anthony and soccer star David Beckham.
Hsieh’s unit is reported to be on the 52nd floor.
Lake Forest-based loanDepot bought the naming rights to the Miami Marlins ballpark last March and has since rebranded the site to loanDepot Park. Financial terms were undisclosed.
Crystal Cove Record
Hsieh currently owns 15 Del Mar in Crystal Cove, which sets a new local home record when it sold in 2020. That record has since been bested by a $70 million sale in Laguna Beach’s Abalone Point (see story, page 1).
The Crystal Cove estate spans north of 18,700 square feet on a 0.6-acre lot and includes six bedrooms and 12 bathrooms.
Compass’ Rob Giem represented the seller; Coldwell Banker Realty’s Tim Smith represented Hsieh in the 2020 deal.
Beverly Hills Listing
Meanwhile, billionaire philanthropist Sue Gross is maintaining her area holdings while looking to sell estates outside the region.
Gross, who owns five homes in Irvine Cove, including three in Abalone Point, is looking to sell two of her Los Angeles homes.
One Beverly Hills home, which 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 just last November.
Gross is reported to own two other homes next to the just-listed estate, one of which is also on the market.
The home, which reports indicate 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.
