LAGUNA BEACH, Calif.—Setting an all-time high record for home price in Orange County, a biotech hedge fund mogul purchased a $70 million oceanfront estate, nearly doubling the price the last time the property was sold in 2018.
Joseph Edelman, founder and CEO of the New York-based Perceptive Advisors, and his wife, Susan Lebovitz-Edelman, purchased the 18,000-square-foot property—about the size of four full-size basketball courts—despite its absence from the market.
