As last year ended, Orange County’s luxury market enjoyed high demand, thanks to stock market gains and ever-increasing investor confidence. It wasn’t just Orange County; nationally, luxury home prices rose 7.4% year-over-year, according to a December Redfin report that surveyed 1,000 markets across the country.
The Orange County luxury market seems poised to continue the trend. The first three months of the year, there were several notable sales, including the $23 million transaction of El Parador, the Laguna Beach estate held by the same family for more than 85 years (see first sale, below). Fifty-eight homes fetched more than $4 million between Jan. 1 and March 15, with Corona del Mar, 92625, Newport Coast, 92657, and Laguna Beach, 92651, leading sales with 11, nine and seven transactions closed above $4 million, respectively.
Endless Possibilities
The home at 156 Emerald Bay sold on Feb. 15 for $23 million, under its $28 million December list price, the highest Orange County residential sale price of the year so far.
The property is the largest single parcel on the oceanfront in all of Emerald Bay, just more than half an acre.
Held in the same family since 1932, the unique property, christened El Parador, is currently graced by a 3,920-square-foot colonial-style home built in 1932 that offers five bedrooms and five baths. The property also includes a sand-front cabana and large entertaining terrace. The gently sloping topography lends itself to nearly limitless new-home construction options.
Rob Giem of Compass represented the seller and the buyer.
West Coast Chic
A Cape Cod home listed for $9.3 million in January, closed for $8.6 million on Feb. 16.
The 201 N. Star Lane property in Newport Beach offers 5,519 square feet of living space that includes a master suite and two additional bedrooms, as well as the potential for a fourth. Other rooms include an office and a library. The gourmet kitchen features a Viking stove, Sub-Zero double refrigerator and a walk-in pantry.
The home is on an 8,000-square-foot corner lot that delivers panoramic ocean and coastline views. The grounds include an infinity pool and spa that overlooks the water.
Sean Stanfield and Garrett Weston, both of HOM Sotheby’s International Realty, represented the seller and buyer, respectively.
Work of Art
Conceptualized by Los Angeles architect Michael Rotondi, the property at 7402 W. Oceanfront in Newport Beach sold on Feb. 28 for $6.1 million. It was listed in November for $6.25 million.
The 3,000-square-foot beachfront home was designed to be a unique and timeless work of art. From its corrugated metal exterior, angled walls of glass and open living and entertaining spaces, to its steel staircase centerpiece, the ethereal three-bedroom, three-bath home embodies contemporary design. Situated on a 2,252-square-foot lot, it’s steps from the sand.
Other features include programmable Lutron lighting, a security system, custom flooring and stonework, a wireless music sound system and Porcelanosa fixtures throughout.
Timothy Tamura and Steve Sergi of VALIA Properties represented the seller, and Sean Stanfield of HOM Sotheby’s International represented the buyer.
Loving Life on Lido
On March 2, the newly remodeled Lido Island contemporary home at 113 Via Lido Soud in Newport Beach sold for $4.8 million. It was listed in January for $5.5 million.
The 3,620-square-foot home offers unique features, including a retractable roof in the center and two large bayfront living areas. There are four bedrooms, including a master suite with a custom fireplace and private deck. The master bathroom is a marble masterpiece. There are three additional baths, as well as high-end cabinetry and appliances and walls of windows that enhance the indoor-outdoor livability.
The waterfront lot is 3,668 square feet and includes a dock slip that can accommodate a vessel of up to 65 feet.
Evan Balsis and Brad McCarville of Harcourts Premier Properties were the listing agents, and Brandon Hobbs, also of Harcourts Premier Properties, was the buyer’s agent.
