A Corona del Mar estate fresh off a two-year renovation is on the market for $49.5 million.

The four-level, 11,165-square-foot mansion is perched above a sandy, 3/4-acre blufftop lot in the Shore Cliffs neighborhood. It has five bedrooms, 10 bathrooms and a bright, modern interior that lights up the original architecture’s old-world style.

Orange County architect Brion Jeanette designed the storybook house, built from the ground up in 2008. Bruce Elieff, the CEO and chairman of Irvine-based developer SunCal Cos. and the previous owner, commissioned the project.

The house is “never to be approved again under current limitations,” the listing reads.

After filing for Chapter 11 bankruptcy in 2019, Elieff sold the property to real estate investor and broker Lin He through an investment LLC. Records show the deal closed in May 2022 for $20.6 million.

He, who is co-listing the home through his brokerage, Rellion Inc., got to work renovating the property, which offers views from Arch Rock to the channel entrance and out to Catalina Island .

Over the years, He has revamped houses in high-class and middle-class markets.

Southern California News Group profiled his transformation of a rundown Eichler home in the Fairhills neighborhood of Orange that he bought for $400,000 and sold for $1.072 million, down $27,000 from its original asking price in September 2019.

Recently, he built a custom home in Eastside Costa Mesa. The four-bedroom, 3,305-square-foot dwelling features an organic contemporary style and was designed by the award-winning Archimorphic Architects and renowned Morrison Interiors.

It fetched $4.7 million Aug. 30, making it the most expensive home sold in Costa Mesa.

“People want a more contemporary, clean-line look that still has some texture,” said He, who accomplished that on the estate in Corona del Mar by editing its interiors.

“Heavy metal chandeliers were updated with contemporary lighting fixtures,” He said. “I have ditched the drapes for custom shades. And the original decorative flooring in the entrance hall was recently replaced with traditional wood flooring.

“We didn’t make everything modern and clean because we still wanted a hint of that old-world feel,” He said. “If you look at the fireplaces, you’ll see they are made from fine materials and (display) great workmanship, which is why we decided to keep them — to create a juxtaposition between the old and new.”

Renovations include modern upgrades to the audio, visual and security systems, enhancing the home without altering its structure.

The home’s nearly full-floor primary suite features a private oceanfront terrace, a sitting room, two bathrooms and two dressing areas.

There are formal living and dining rooms, a kitchen with a breakfast room, a large family room, a wood-paneled office and a gym.

Entertaining amenities include a home theater, a wet bar, a rooftop terrace, a large oceanfront terrace with a pool, several oceanfront terraces, a barbecue center and a private pathway to the beach below.

An elevator that services all four levels of the house and an eight-car garage round out the offering.

He shares the listing with Rob Giem of Compass.