The Real Deal Los Angeles

Newport Coast manse’s $31M sale among year’s priciest in Orange County

Founder of landscape lighting firm acquired 15K sf home
December 28, 2018 01:00PM

9 Del Mar, Newport Coast (Credit: Surterre Properties and iStock)

UPDATED, Dec. 28, 1:15 p.m.: Multimillion-dollar home sales in Orange County are commonplace, but a $30.5 million deal for a Newport Coast mansion has ranked in the top four this year.

Alan Brynjolfsson, who founded lighting manufacturer and seller Volt Lighting, bought the 15,000-square-foot home at 9 Del Mar in Crystal Cove, according to Yolanda’s Little Black Book.

Bank of America provided the $16.5 million mortgage, according to county records.

The seller was businessman Nabeel Gareeb, according to Yolanda. In 2007, he purchased the three-quarter-acre parcel of land for $15 million then built the home.

The home in the gated community includes an infinity pool overlooking the Pacific Ocean, waterfalls, fire pits, and a putting green, according to a listing by Newport Beach luxury real estate firm Surterre Properties.

Rex McKown and Marcy Weinstein of Surterre Properties were the listing agents and Rob

Smith, also of Surterre, represented Brynjolfsson.

The purchase price came in below the asking price of $35 million, but was still significantly

higher than the average Crystal Cove property price $4.9 million, according to Surterre’s website.

This month, Dallas Mavericks owner Mark Cuban purchased an oceanfront Laguna Beach mansion for $19 million.

Eight-figure price tags have also become more common in Los Angeles, where in the first five months of the year, 12 homes sold for a combined $632 million. [Yolanda] — Caroline Anderson