A waterfront Newport Beach, California, mansion has been purchased by Qualtrics co-founder Jared Smith for a little over $35 million, placing it among the most expensive residential property sales in Orange County history.
The 12,710-square-foot Newport Harbor estate was listed for $44.995 million and sold in late August following a five-day escrow in an all-cash deal. The property has since been leased out for $195,000 per month, according to the Multiple Listing Service.
The sale price is about $5 million shy of the previous Newport Beach record, set two years ago when a 12.5-acre estate in Newport Coast — considered the city’s largest private home parcel — sold for $39,999,999. It’s also $8,000 more than what actor Nicolas Cage sold his Newport Harbor home for in 2008, according to the Daily Pilot.
Designed by Robert Sinclair and completed in 2018, the five-bedroom, eight-bathroom estate sits on three lots with 90 feet of frontage and a new private dock that can accommodate at least four vessels. Inside, the multilevel house features about $1 million worth of Riviera bronze doors and windows, two bars, two chef’s kitchens, a craft room, a gym and a theater. A custom $100,000 aquarium designed by Nic Tiemens anchors the great room.
Three Tesla batteries and solar panels keep the home powered during outages. A glass elevator services four levels.
Terraces, balconies and multiple covered patios create additional living space outdoors. A 57-foot-long swimming pool with underwater speakers sits between the home and the dock.
Jared Smith co-founded the enterprise software company Qualtrics with his brother, Ryan, in their parents’ basement in Utah, according to the Salt Lake Tribune. The Provo, Utah-based company was acquired last year by German software company SAP for $8 billion in cash.