A mysterious buyer recently paid $34 million for a home in Newport Coast, an exclusive area in Orange County. Zach LaVine, an All-Star for the Chicago Bulls who started his NBA career with the Minnesota Timberwolves, is said to be that person. The Orange County Register said last month that they thought LaVine might now own the huge, most expensive home ever sold in the exclusive Pelican Crest neighborhood. Vanessa Bryant and Paul Merage, the inventor of Hot Pockets, also live in this gated community.
Despite the slowdown in the real estate market, qualified purchasers reportedly flocked to the expensive home when it was first listed in March. According to the listing agents, the residence received three offers within the first two weeks on the market, in addition to numerous showings. The sellers initially accepted an offer closer to the asking price of $40 million, but when that escrow fell through, they turned to LaVine’s fallback offer of $34 million.
It’s not a surprise that LaVine wants to buy a big new house. In fact, the man who is worth $215 million just sold his first Newport Coast home, which was a smaller house that looked a lot like this one in Crystal Cove, which is close by. The 28-year-old man from Seattle recently put his home in a town of Washington state up for sale.
The 2010 home at Pelican Crest was built in 2010. Its ad called it “timeless” and “irreplaceable.” The house was built in the Tuscan style and cost $14.7 million to buy. It was then carefully restored by Rob and Ami Douk, who are married. The house is at the end of a cul-de-sac, behind walls, on a 0.79-acre lot that is pretty big for the area.
The listing says that LaVine and Hunter will be able to use almost every residential amenity you can think of at their new O.C. palace. These include a state-of-the-art gym, an infrared sauna, wine cellar, games room, golf simulator, gourmet kitchen with two marble-topped islands, and a “Yves Saint Laurent-themed” walk-in closet in the master suite. As expected, the rooms inside are very large and filled with natural light thanks to the glass doors that can be folded up.
The best thing about the property, though, is its pie-shaped lot, which has wide views of the Pacific Ocean to the southwest and clear views of both sunrise and sunset. LaVine will have to pay $843 a month in HOA fees on top of the $34 million buying price.