Photo: Courtesy of McMonigle Group
A June 20, 2011 foreclosure auction has been set for the $37 million Villa de Lago in Newport Beach, Calif. The mansion is the priciest listing in Orange County.Luxury home salesman, John McMonigle’s McMonigle Group, built the home as a spec, hoping to sell it for $57 million. Failing to sell, McMonigle dropped the price down in July 2010, to $37 million, but soon stopped paying the monthly loans.
The estate has a lot to offer with panoramic views of the canyon greenbelt, mountains, and Pacific. It also has an arcade, private lake, 17-car garage, and a wine cave.
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