Newport gets 2 bayview penthouses

Newport gets 2 bayview penthouses

Jonathan Lansner, The Orange County Register
January 12, 2011

Newport Beach will be getting a pair of penthouse homes with waterfront views — in an old bank headquarters building viewed as an historic architectural gem.

The 1960s-era, 60-foot-tall office building at 3388 Via Lido — the old Newport Balboa Savings offices — is getting a complete overhaul. The plan is highlighted by the creation of “two luxury, two-story penthouse homes each with more than 5,000 square feet of living space” that will be constructed above two floors of offices, according to a press release from the developers Marshall Property & Development and Bayfront Holdings.

Matt Montgomery of Marshall: “We are completely repositioning the building to include new exterior glazing and all new building systems; the vision is to create the most unique waterfront property in California that can be a catalyst for the future of Lido Village. The penthouses will be particularly spectacular, with floor-to-ceiling windows that open to views of Catalina Island and Newport Harbor. The homes will also include outdoor living spaces and expansive balconies.”

Nearby, Marshall and partners plan to turn 3355 Via Lido — old retail and office space — into a 17 townhouse projects as part of an overall rethinking of Newport’s Lido Village. The two properties were sold as a pair last year, reportedly for $13.6 million after originally being listed for $15.5 million.

The office tower at 3388 Via Lida was designed by Peruvian-born W.A. Sarmiento. His work, according to a tribute website, “led to the construction of hundreds of cutting-edge mid-century modern buildings nationwide. Many towns had never imagined setting their sights on what Sarmiento planted in their downtowns before then! He became a driving force behind revolutionizing the look and feel of banking in postwar America between 1952 and 1964.”

This office structure was added in 1961 behind Newport Balboa’s distinctive bayside branch, which thanks to its waterfront location apparently had “yacht-in” service. Says the Sarmiento website: “The office building addition added a new compliment of multi-colored sun-shading louvers and a playful folded plate roof as a cap. The waving folded plate element signified the location of the rooftop restaurant that was a popular destination for many years with its outstanding view of the Newport Bay.”