Powerhouse realtor Josh Altman recently described the new Los Angeles mansion tax as “one of the most ridiculous bills I have ever seen” and warned it would create “the hardest hit to the real estate market… since 2007.” So it’s not entirely surprising that the reality TV star and his business partner wife Heather’s latest home purchase is located well outside of L.A., in the swanky Orange County town of Newport Beach.
BravoTV.com first reported the Altmans’ buy, and tax records show the couple forked out an impressive $8.7 million for their new digs, in a transfer inked off-market. The waterfront property is located on Newport Harbor; naturally, it comes equipped with a boat dock and bay views.
Spacious but architecturally ambivalent, the 3,300-square-foot house was built in the early 1970s and underwent a remodel in the 2000s. While current photos do not display imagery of the interiors, old listing pictures and tax records reveal there are four bedrooms and 4.5 baths, plus a large bonus room that could be a fifth bedroom. Hardwood floors and beige walls flow throughout, and there’s a big kitchen with granite countertops, a walk-in pantry and premium stainless appliances.
Upstairs, the master suite includes a marble fireplace, marble bath with a soaking tub, a walk-in closet and private balcony overlooking the bay. Like all waterfront homes in Newport, the house sits cheek-to-jowl between neighboring properties, so yard space is severely limited, but the lot does offer an attached two-car garage, plus a covered patio area with a BBQ center out back. From there, a short flight of steps leads down to the beach.
The Altmans have become known for buying luxury homes and flipping them for huge profits, but the Newport house is different. “I’m never selling it!” Heather Altman recently told Bravo. Instead, according to her, the couple plans to renovate the property and eventually make it their full-time family home. With its incredible sunset views and convenient location relative to the luxury shopping and dining destinations for which the O.C. is famed, the property is “beyond our dream house,” she added.
In addition to their Newport project, the Altmans also own a Bel Air compound that’s currently up for sale, asking $14 million. But their main residence, at least for now, remains a 1930s Georgian-style mansion in prime Beverly Hills.