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Home of the Week

One on the Isle, With Yacht Space


An imposing home on the westerly tip of Harbor Island has come on the market in Newport Beach.

The 18,000-square-foot house sits on slightly more than half an acre but has more than 300 feet on the bay front and a dock where several large yachts could be parked.

It was built in 1990 of concrete and steel and has an eight-car subterranean garage.

The house is one of the highest-priced homes for sale in Orange County. The estate's sale price was the highest for the area in 1991, when Hong Kong hotelier George Yao bought it for $13.8 million.

During the recession, the property went into foreclosure, and William G. Simon, former head of the FBI in Los Angeles, bought it for about $8 million.

In 1999, dot-com entrepreneur Robert McNulty bought the house for about $14 million. He sold it in 2001 for more--estimates ranged from $14.8 million to more than $18 million.

About this house: The current East Coast owner bought an L.A. business about three years ago. He is selling the estate because he sold the business and is moving back to New York, Realtors said.

The property was once part of the estate of L.A. banker and arts patron Howard Ahmanson. The house was built by local developer Leroy Carver III, whose father founded a nearby Rolls-Royce dealership.

Asking price: $22.5 million

Size: 10 bedrooms and 14.5 bathrooms, including a 3,000-square-foot master suite

Features: The gated home, clad in limestone, has six fireplaces, an elevator, a walk-in wine cooler, staff quarters, a butler's pantry, a waterfront pool and main channel views.

Where: Harbor Island, a private island of 31 homes

Contact: Mary DiTullio, (949) 759-3713, and Bob DiTullio, (949) 718-2717, of Coast Newport Properties, Newport Beach.

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