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Wednesday, Aug 10, 2022

June Gloom Absent from Luxury Coastal Home Sales

June got off to an auspicious start with 14 luxury home sales over $4 million in the first two weeks of the month.

Newport Beach boasted five such sales, with a median price of $6.7 million. The four luxury homes that sold in Corona del Mar had an average price of $6 million.

There were two luxury sales in Newport Coast during the period: a custom mansion in Crystal Cove that went for $16 million and an ocean-view estate in Pelican Crest that sold for $9.4 million.

Irvine, San Juan Capistrano, and Laguna Niguel had one sale each, fetching $6.6 million, $5 million, and $6.3 million, respectively.

Sales highlights from the first half of June include:

One of a Kind

The oceanfront home at 1 Harbor Island, situated on a .26-acre lot on the island, offers 134 feet of Bay frontage from its 11,300-square-foot lot.

It sold on June 12 for $12 million, under its September asking price of $13.5 million.

The 4,329-square-foot, four-bedroom, five-bath residence was designed by Newport Beach architect C.J. Light and features finishes that include African Anigre hardwood, Portuguese limestone, and Venetian plaster. Other high points include a waterfront master suite with a spa bath, and a professional-grade gourmet kitchen.

The home boasts a wall of glass that opens completely to the rear grounds. The outdoor space includes a waterfront swimming pool and spa, a built-in barbecue, and a private dock to accommodate two 60-foot yachts and two smaller boats.

According to listing agent Kathryn White of HÔM Sotheby’s International, who represented the seller with co-listing agent John Cain, also of HÔM Sotheby’s, it was the highest published sale on the Newport Beach bayfront this year to date.

The buyer’s agent was Chuck Iverson of Coldwell Banker.

Designed for Fine Living

The estate at 5 Oceancrest in Newport Coast was designed for aficionados of fine living, according to listing agent Jacqueline Thompson of Surterre Properties.

The property sold on June 12 for $9.4 million, under its January list price of $10.5 million.

It features a customized five-car garage with turntable, a director-quality, wide-screen theater, a wine room, and a professional-grade kitchen.

The 9,778-square-foot residence sits on a nearly 18,000-square-foot view lot in Pelican Crest, featuring five bedroom suites and 6 ½ baths. The European-inspired estate has an open floor plan comprising large-scale rooms that feature 180-degree views.

The grounds include a loggia, a swimming pool and spa with fountains, and a barbecue kitchen with bar and outdoor fireplace.

Jacqueline Walker of First Team Real Estate represented the buyer.

A Bit of Spain

Andalusia is a region of Spain that embodies much of what the world thinks of as Spanish: flamenco, tapas, matadors and bullfights.

The custom 9,600-square-foot, Andalusian-inspired estate at 63 Canyon Creek in Irvine reflects the style of homes in that region. It sold on June 11 for $6.6 million, off its April list price of $6.95 million.

It has hardwood and stone floors, vaulted ceilings, arched windows, wood beamed ceilings, and arched interior hallways. There are five bedrooms and seven baths, and a chef’s kitchen equipped with Wolf, Sub-Zero and Miele appliances.

The subterranean level includes a theater and a temperature-controlled wine tasting room. The home and grounds are situated on .53-acres.

The seller was represented by Sue Young of Villa Real Estate. Kuo Chiu of Supreme Investment Corp. worked for the buyer.

Inspired Design

The 14,700-square-foot Bear Brand custom estate at 3 Inspiration in Laguna Niguel offers 11 bedrooms and 12 bathrooms, a movie theater, a library, a wine room, private office, game room, and a chef’s kitchen.

It sold for $6.3 million on June 12, surpassing its March list price of $6 million.

The home’s multiple balconies deliver panoramic views of the ocean, city lights and sunsets.

It’s spread over 1.52-acres that feature a swimming pool and spa, a poolside cabana with a full bath, a complete outdoor kitchen, a putting green, and multiple fire pits.

Tim Smith of the Smith Group, Coldwell Banker Previews International, represented the sellers, and broker Patrick Lehman negotiated on behalf of the buyer.


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