A prominent fashion executive-turned-baked goods entrepreneur is looking to make a mark in Orange County’s luxury residential market with a $47.5 million ask for his waterfront manse in Newport Beach.
Michael Gray’s estate at 309 Via Lido Soud has a footprint of nearly 10,000 square feet on Lido Isle in Newport Harbor. The scion of the St. John Knits label–a high-end fashion brand where he served a tenure as president–also founded the Sweet Life Enterprises commercial bakery and is well-known in philanthropic circles in OC.
A sale at the asking price would put the deal in the top for residential sales in OC history, according to Tim Smith of Coldwell Banker who has the listing on Via Lido, which comes to $5,356 per-square-foot.
The top sale in OC history came last year in an off-market deal for a $70 million mansion in Laguna Beach’s Irvine Cove enclave. In 2020, Smith was the listing agent for another top-five sale–a $61 million deal for a home in Newport Beach’s Crystal Cove area.
About half the people shopping in OC’s priciest precincts are empty nesters looking for a second home, Smith said. However, 309 Via Lido Soud might be of particular interest to a yachting enthusiasts–it has a private dock that can fit up to five boats.
Other amenities include a gym and an infinity pool built to give the look like its water is flowing into the harbor. There’s also a six -car garage, a guest house and a main house with four beds and five baths.
The house was built by Gray in 2018.