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Thursday, Sep 28, 2023

Montage Estate Trades for $30M, New Community Record

An 8,140-square-foot home within the Montage Ocean Estates neighborhood of Laguna Beach, next to the city’s famed resort, has traded for nearly $30 million, a new record for the exclusive community.

The sale also marks a new top price for OC luxe’s market in 2022, besting the $27 million sale of 37 Linda Isle, which traded at the start of the month.

“We’re coming off a record 2021, and that activity is carrying over into 2022,” John Stanaland of Villa Real Estate said.

Stanaland represented the undisclosed seller of 7 Montage Way, which closed on Feb. 9; Allen Mcmurtray of EJM Realty Group represented the undisclosed buyer.

More activity is expected to follow in the coming weeks for the 13-home gated community and the 14 luxury villas situated above the neighborhood, with several deals in the works.


Glass Bridge Entryway 

The six-bedroom, nine-bathroom home sold for $29.9 million, but the final sales price is reported to be closer to $32 million when including personal property.

The local seller bought the lot in 2010 for an undisclosed price, and compiled a team of architects and designers to custom-build the estate, which delivered in 2013. Costa Mesa-based Seacrest Developers built nearly all of the homes within Montage Ocean Estates, including the recently traded 7 Montage. Ziccardi Designs was tapped for the interiors.

The home includes a glass bridge entryway, an infinity pool, a Japanese Zen garden with custom waterfalls, a fitness room with a custom glass ceiling and a home theater, among other features.

“High-end, special properties continue to generate top prices in Orange County,” Stanaland said.


One Lot Left

The ultra-luxe Montage community counts notable residents like Dallas Mavericks owner Mark Cuban—who has a $19 million vacation home in the neighborhood—and other high-end buyers. The homes, adjacent to the 259-room Montage Laguna Beach resort, count both part- and full-time residents.

The prior top on-market deal for the community occurred in 2012 when Stanaland brokered the $20 million sale of 3 Montage Way, while the $22 million sale of 5 Montage is the priciest off-market transaction for the neighborhood. Villa’s Steve High represented the latter deal.

There’s only one remaining lot that has yet to be developed, which sold last year for $8.9 million. At the time of reporting, it was expected to close this month for a price in the mid-$9 million range.

The top price ever paid for a vacant lot in Montage is $10.5 million, according to Stanaland, who brokered that land deal. Stanaland counts plenty of Montage expertise; he previously served as the corporate broker for the Montage residential area.

“I grew up down the beach from Montage, and if anything, the community just keeps getting better and better,” Stanaland said. “It’s a very exclusive group of homeowners.” 

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