A Bay Island house on the tip of the private enclave in Newport Beach only accessible by foot or golf cart, is back on the market after getting a $2 million price chop.
The 5,434-square-foot estate at 12 Bay Island was originally listed last year with an asking price of $21.9 million and was taken off the market in August.
The four-bedroom, four-bathroom home is now asking $19.9 million with a monthly HOA fee of $2,389. It appears to be the only active Bay Island listing on Multiple Listing Service.
The home’s location offers potential buyers “a sweeping panorama” of harbor and city views, according to listing details. The South Pacific-style home has wood-beamed ceilings, imported limestone and Venetian plaster. There’s also a private dock, elevator, large basement, rooftop terrace, seven fireplaces and several lanais.
Records show the property last sold in 2014 for $17.2 million.
Bay Island has 23 residences spread across 5.5 acres and is accessible only by a small bridge located past a private gate.
Residents share ownership of the island through a stock cooperative under the homeowner’s association Bay Island Club. They also have access to a botanical garden, tennis court and private beaches.
Early residents were some of the biggest names in Orange County, including Samuel Tustin, son of the founder of the city of Tustin, and Charles Chapman, first mayor of Fullerton and for whom Chapman University is named.
Tara Shapiro of Pacific Sotheby’s International Realty holds the listing.
Rock Steady
Tucked away in southern Laguna Beach is a 4,955-square-foot home next to Table Rock Beach with an asking price of $9.7 million.
The contemporary-style beachfront property on Table Rock Drive is hidden behind a private gate that leads visitors down a palm tree-lined driveway with parking for up to nine cars.
It has five bedrooms and four bedrooms, as well as five separate private decks. The home’s backyard overlooks the water and offers private beach access.
It’s been the longtime home of mortgage banking executive Steven Ginder and wife, Deborah, who purchased the home in 1999 for $3.1 million, according to property records.
Ginder co-founded and was chief executive of Anaheim-based National Pacific Mortgage Corp. and Pacific Republic Mortgage Corp.
By 1996, 7-year-old National Pacific had a residential servicing portfolio of $1.8 billion before it was acquired by Old Kent Mortgage Co., which was then bought by Fifth Third Bancorp in 2001. Pacific Republic was renamed GMAC Mortgage after it was acquired by the home mortgage originator in 2004 for an undisclosed sum.
Ginder now serves as chief executive of the Ginder Family Foundation, which has donated more than $1.5 million to charities in California and Utah.
John Stanaland of Villa Real Estate and Reid Ginder of RSG Pacific Properties Inc. have the listing.
Palatial Digs
There’s plenty of room to stretch out inside the newly listed $23.8 million Crystal Cove property at 41 Tide Watch.
The 12,826-square-foot, custom-built mansion is “situated on the point at the highest elevations within the community” and was completed this year, according to listing details. The Newport Coast home has six bedrooms and seven bathrooms.
Constructed by Santa Ana-based Haigh Builders, the estate has iron and glass doors from Switzerland, French oak floors, marble imported from Italy and a double-height foyer with gallery.
It has a large master wing offering harbor views, as well as a sitting room, fireplace, large terrace and spa bathing suite.
The lower level has a theater, gym, full bar, wine dining room and cellar. There’s also a large outdoor dining area, which overlooks the home’s pool and spa.
The seller purchased the lot for the site in 2016 for $3.9 million, according to property records.
Rex McKown and Marcy Weinstein of Surterre Properties Inc. have the listing.
