Bidding for a Newport Coast estate once priced as high as $87 million topped out last month at $18.5 million, the property’s bankruptcy lawyer said.
The sale of 1 Pelican Hill Road North, a mansion formerly called Villa del Lago, will be reviewed by a bankruptcy court judge within a week.
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“In today’s market, after all the effort that went into the sale, I believe this was the best result obtained under the circumstances,” said… (View original article)