Newport Beach has enjoyed a strong year so far in luxury sales, leading the coastal market in transactions that closed above the $4 million mark. Zip code 92657, which includes Newport Coast, boasts 54 luxury home sales in the first five months of 2017.
In fact, 92657 also claims the highest sale price of the period—the Italian-inspired estate at 1 Pelican Crest, which is featured below. It sold for more than $24 million.
Laguna Beach zip code 92651, which includes the private Emerald Bay community, had the second highest sales above $4 million, with 29 closed transactions.
Fifteen luxury homes sold in Irvine zip code 92603, which encompasses Shady Canyon.
Other notable zip codes are also part of Newport Beach: 92625, Corona del Mar, saw 14 sales, and 92661, including Balboa Peninsula, had a dozen such sales.
Dream Home Come True
The 13,437-square-foot 1 Pelican Crest Drive in Newport Coast brought $24 million when it sold on June 1, off its $30 million list price in January.
The gated Versailles-inspired estate caps a .73-acre lot featuring 220-degree views of the ocean, Catalina Island, the Palos Verdes peninsula, Newport Harbor, Pelican Hill Golf Course and views all the way to downtown Los Angeles.
The expansive home encompasses seven bedrooms and 11 baths, plus a spa, gym, 13-seat movie theater, 1,200-plus- bottle wine cellar, a bar/lounge and recreation room.
Rex McKown and Marcy Weinstein of McKown Weinstein & Associates Surterre Properties Inc. represented the seller. Grace Tu of First Team Real Estate represented the buyer.
Life’s a Beach
The home at 35415 Beach Road in Dana Point sold on June 5 for $7.83 million, coming in under its $8 million April list price.
The four-bedroom, four-bath home is a rare find in guard-gated Capistrano Beach: a new-construction house right on the sand.
It was designed by architect Chris Brandon and built by Pinnacle Custom Homes, and its 4,000 square feet of soft contemporary space represent just one of a couple of “on the sand” homes introduced to the SoCal market under $10 million in several years, according to the seller’s agent, Ken Ross of Luxre Realty Inc.
The home sits on a 4,454-square-foot lot. Its amenities include 12-foot sliding glass doors that provide direct access to an oceanfront deck and a kitchen with designer appliances, including Wolf, Bosch and Subzero.
Scott Gunther of Coldwell Banker Residential Brokerage worked on behalf of the buyer.
Modern Traditionalist
On June 2, the bayfront home at 928 E. Balboa Blvd. in Newport Beach sold for $7.2 million after listing in February for $7.7 million.
The four-bedroom, six-bath home sits on a 4,620-square-foot lot and spans 3,341 square feet. It takes a modern approach to the classic California Cape Cod style, with burnished brass exterior gas lanterns, interior and exterior brickwork, and reclaimed hardwood flooring.
The home features walls of glass that frame a private beach that extends to the harbor. A third-level loggia serves as an entertaining venue with a fully equipped outdoor kitchen and bay and city lights views.
A temperature-controlled wine cellar, SmartHome technology and a two-car garage complete the Newport Harbor home.
The sale was represented by Tara Foster Shapiro of HÔM Sotheby’s International Realty on the seller’s side and by Rand Penrod of Villa Real Estate on the buyer’s.
Beautiful Bayfront
The five-bedroom, four-bath home at 1350 W. Bay Ave. in Newport Beach sits on a 4,506-square-foot corner lot on the Balboa Peninsula and sold on May 30 for $7 million, under its April list price of $7.5 million.
The custom-built home is 4,096 square feet and features high ceilings, a living room with floor-to-ceiling windows and a formal dining area.
The property includes 41 feet of frontage. Its corner location provides views of the Newport Channel from Fashion Island to the Main Turning Basin.
Steve High and Evan Corkett, both of Villa Real Estate, represented the seller, and Tara Foster Shapiro of HÔM Sotheby’s represented the buyer.
