We knew Selling the OC season 2 would be grand, but the Oppenheim Group's first billion-dollar listing catapults the brokerage into unimaginable territory.
During a group sit-down in the Newport Beach office, head honcho Jason Oppenheim updated his staff about the company's new office in Cabo San Lucas, Mexico, as well as the big bucks that come along with it.
"We've got a big announcement: in Cabo San Lucas, we have our first billion-dollar listing," Jason revealed.
"Billion? Like with a 'B'?" Lauren Shortt asked.
Yes ma'am, billion. Viva la Mexico, right?! But aside from the initial mention of the exceptionally high-priced listing, we don't hear much about it after the first episode. And when the crew leaves for a company trip to the tropical hotspot, we don't visit said listing (though that gorgeous $45,000,000 villa certainly sufficed). So, what do we know about this abode with Big Listing Energy? Let's dig in.
(Yes, this mystery is the new "Did Davina sell the $75 million house on Selling Sunset?")
What's going on with Oppenheim Group's billion-dollar listing?
Is it a single-family property? Is it intended for more than one buyer? Is it a luxury community within Cabo? Is it one of the most expensive homes in the world? Little is known about the listing, other than it's out-of-this-world.
Currently, the highest active listing on the Oppenheim Cabo website is $17,950,000—no small amount, but still lightyears away from $1 billion. The company's Instagram page, which reveals listed and sold properties, does not make mention of the billion-dollar buy.
To put things in context, Come to Cabo Villa Rentals revealed that homes in the luxury real estate market in Cabo average at around $3 million, but can reach as high as $16 or $17 million. And in the O Group's case, one home hit the $45,000,000 mark, which we see in season 2. Then we have a late 2022 article from Forbes that stated a $90 million beachfront abode in Los Cabos, the county that incorporates Cabo San Jose del Cabo and Cabo San Lucas, was the most expensive property in the area's history.
During the OC Group's Mexican getaway, Jason took his staffers to the office to show them around and talk numbers. He said that Cabo hit $400-500 million in sales in 2020.
"This year  they’re on pace for over $2 billion in sales," he noted.
So, would half of that be attributed to this listing? Given that realtors in the U.S. celebrate reaching their $100,000 million mark, which typically takes a few years, imagine doing that ten times in one fell swoop. Additionally, Jason revealed last year that his brokerage sold an enormous $2 billion in real estate over nine years, so it seems interesting to think one single place has the power to wipe out half of what took nearly a decade to accomplish.
Does the billion-dollar listing on 'Selling the OC' actually exit?
My Imperfect Life has reached out to the Oppenheim Group regarding the property, but did not hear back at the time of publication. As soon as we learn more, we'll be sure to keep you updated.
There are plenty of possibilities of how things unfolded: the house could have been sold already, the listing could have moved to another agency, the price could have been brought down (hopefully significantly!), one of the world's 2,640 billionaires could have scooped it up, or perhaps privacy and security were at play and the brokerage didn't want to shed light on the home.
Whatever the case might be, we'll just be here getting lost in the O Group drama until we're given confirmation!
Selling the OC season 2 is available to stream on Netflix beginning Friday, September 8.