Laguna Oceanfront ‘Immediately Spoke’ to Buyer
Gets One-Time Home of “King of Botox” for $7.1M
SHERRI CRUZ Sunday, March 3, 2013
31025 Coast Highway: three bedrooms, three baths, 3,572 square feet
The oceanfront Laguna Beach home of celebrity dermatologist Arnold “Arnie” Klein—known as the “King of Botox”—was sold to a local buyer for $7.1 million, down from $8.1 million in September.
Klein is known for his high-profile clients, including late pop singer Michael Jackson. He has been facing a variety of reported legal battles and filed for bankruptcy protection in 2011.
Greg Bingham, an agent with Coldwell Banker Residential’s Newport Beach office, represented Klein.
Sharon Katouli, an agent with Teles Properties Inc.’s Laguna Beach office, represented the buyer.
Katouli had been working with the buyer since August.
The buyer wanted a coastal property.
“It had to have an exceptional view,” Katouli said.
He also wanted private access to the beach.
“Those were his requirements,” she said. “There’s not a lot of those homes available.”
The buyer looked at about seven to 10 homes along the coast in Dana Point, Newport Beach and Laguna Beach.
He came across Klein’s home at 31025 Coast Highway in November.
“It just immediately spoke to him,” Katouli said. “This particular property is sensational.”
The 3,572-square-foot home has a 270-degree ocean view from all three levels. The home has three bedrooms and three baths.
“It was a bankruptcy, so it was one of the most complex transactions I have ever worked,” Katouli said.
The home had some back-and-forth bidding with one other bidder.
It was sort of like an auction.
“It goes back and forth until one gives up,” she said. “We had a clear and concise strategy going in there, and he executed it wholeheartedly.”
The home had been in escrow since November and recently closed.
It was complex and a relatively long transaction, but in the end, Katouli said her client was happy.
$4.8M Worth of Horse Sense
The home at 31742 Contijo Way in Coto de Caza sold in an all-cash transaction for $4.8 million, down from $5.7 million in September.
Tim Smith, of Coldwell Banker Previews International’s Newport Beach office, represented the seller.
Mike Ameel, owner of Coto de Caza Real Estate, represented the buyer, a couple from nearby Dove Canyon.
Ameel lives and works in Coto de Caza, which is perhaps best known as the setting for the launch of the reality TV series The Real Housewives of Orange County.
The couple didn’t look at very many homes, Ameel said.
They liked the Coto home right away.
The wife, who has kept horses stabled in the area, always wanted a home that could house them.