Terrible Herbst owner selling Newport Beach home

Jerry Herbst, the 71-year-old owner, chairman and president of Terrible Herbst, which runs gasoline stations, retail operations and casinos in Southern Nevada, is selling his Newport Beach, Calif., home for $31.75 million. Herbst bought the six-bedroom residence for $35 million in 2008 from Oscar-winning actor Nicolas Cage. The purchase price set a record for Orange County, Calif., at the time. Cage paid $25 million for the nearly 0.6-acre property in 2005.

The contemporary house on Newport Bay has a view of the harbor's main turning basin. It has a stone loggia with retractable glass doors, and a dock capable of accommodating 150-foot long boats. It also is next door to John Wayne's former home.

Cage moved his family to a walled and gated estate in Bel-Air, Calif., after encountering a naked intruder in the home. No one was hurt.

At its current price, the home, part of the private community of Bayshores, is Orange County's third-most expensive existing home listed for sale, according to residential brokerage data. The most expensive existing Orange County home is listed for sale is a $38 million estate in Corona del Mar.

Rob Giem of HOM Real Estate Group, a Christie's Great Estates affiliate, has the Herbst home listing.


Comment section guidelines

The below comment section contains thoughts and opinions from users that in no way represent the views of the Las Vegas Review-Journal. This public platform is intended to provide a forum for users of reviewjournal.com to share ideas, express thoughtful opinions and carry the conversation beyond the article. Users must follow the guidelines under our Commenting Policy and are encouraged to use the moderation tools to help maintain civility and keep discussions on topic.

View Comments