![]() Jeffries decorated the home with solid granite floors, teak decks and mahogany paneling.Īs the story goes, he even bought a concrete-mixing company during the home's construction to ensure an endless supply, later selling the company for a $2 million profit. So far Coldwell Banker has received 95 responses from its international marketing campaign for Pacific Reflections, says Pelton. Those who aren't building mansions are looking to buy them. He refuses to discuss details of the estates, but says he hired two additional employees to handle the Koontz project. Jeannette is the architect for Koontz's and Qureshy's houses. "The last two years have been the busiest we've seen in the past 20." "We're as busy as the Dickens," said Jeannette. Newport Beach architect Brion Jeannette is working on four Emerald Bay homes-replacing four lost in last year's Laguna fires-and six on the coast. The deals generated commissions of more than $700,000. Coast Newport Properties in Newport Beach sold two homes for more than $6 million this year-a first since the company's founding four years ago, said Gary Legrand, the company's chief financial officer. Taiwanese investor Frank Hsieh is building a 10,000-square-foot home in the Rockinghorse Ridge gated community in Tustin Hills.Īll the activity is giving agents' and builders' business a much needed boost. Patel, a Mission Viejo internist, is building a 28,806-square- foot San Clemente mansion with a 12-car garage, seven fireplaces and numerous skylights, according to permit data. The less well-known but no less wealthy also are building huge estates. Qureshy bought the lot and a two-bedroom home which he has since razed in 1987 for $3.6 million. Permit data values the project at $1.2 million. Koontz has started grading on his four coastal lots but hasn't pulled building permits.ĪST Chairman Safi Qureshy is building a 14,943-square-foot house with a six-car garage on 3.6 acres in Tustin Hills. ![]() By comparison, the main house at Hearst Castle in San Simeon is only 45,000 square feet. Real estate agents say author Dean Koontz's Newport Coast estate will be among the largest in the state-a reported 60,000-square-foot, 32-bath behemoth that could fit the space of 24 average tract homes inside it. Boehringer's four-bedroom, 4,500-square-foot house is tame compared to what some of the county's wealthiest residents are constructing. The couple finally bought a 20,000-square-foot lot in July at Newport Coast where March says they plan to build a $2 million home.Ĭustom home builder Bill Boehringer said favorable land prices and the availability of ocean-front lots compelled him to build his own $1.2 million estate at Smithcliffs, a coastal, custom-lot development near Laguna Beach. March, 39, and his wife, Laurie, had been looking for a home for three years. "I just felt things had been at a low for so long and that they wouldn't go much lower," said Dave March, owner of an auto-body franchise called Bodyworks in Fountain Valley. ![]() More than half the Irvine Co.'s Newport Coast buyers are entreprenuers-most of whom say they're buying now because they believe the market has bottomed out. ![]()
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