A 9,842-square-foot estate at The Strand at Headlands in Dana Point sold for over $32 million, in a record deal for the coastal neighborhood.
The four-bedroom, seven-bathroom 51 Strand Beach Drive is located on the front row of the luxury, gated development, and marks the first time a home has sold for above $30 million within the community.
The sale is the second priciest on record for the city of Dana Point, about $1 million shy of the current top sale: the 7,700-square-foot 63 Monarch Bay Drive within the 80-home Monarch Bay community. That property sold for $33 million last March.
Public records indicate 51 Strand Beach was previously owned by Thomas C.K. Yuen, a longtime local tech executive who was the co-founder of AST Computer, among other businesses. Yuen died last year at the age of 70.
26 Waterfront Homes
About 26 homes within the 121-acre, 118-home Strand development are on the waterfront; such homes are referred to as “billionaire row,” according to Jacqueline Thompson of Surterre Properties’ Jacqueline Thompson Group, which represented the local seller and buyer of 51 Strand Beach Drive.
The buyer hails from overseas, sources indicate.
There are two for-sale oceanfront homes at The Strand that are currently listed at $55 million and $42.5 million, respectively, both of which are held by Compass’ Arlen Raubach.
According to Raubach, the neighborhood record set by Thompson’s sale may soon be surpassed.
“The south end of Strand Beach Drive has incredible properties,” he told the Business Journal. “One of the homes there is worth over $100 million.”
Custom Built
The near-record deal is 51 Strand Beach’s first transaction.
The seller, who worked with Crawford Custom Homes and Jan Turner Hering Interior Design, “spared no expense” when they built the property in 2011, according to Thompson, who declined to disclose the name of the seller.
“They didn’t really have a budget,” Thompson said. “The builder basically said it was their dream home.”
The estate’s contemporary, minimalist interior aligns with feng shui principles that were of importance to the original owners, Thompson added. The property also includes a dance studio.
“When my client built the home, they were taking ballroom dancing classes,” Thompson said.
Other amenities include an outdoor spa, electronic window shades, an elevator and a four-car garage.
Homeowners within The Strand have access to The Strand Beach Club, a private club with a fitness center, swimming pool, bar and lounge.
Residents of Dana Point’s nearby Monarch Bay neighborhood also have a community beach club, sharing it with guests at the nearby Waldorf Astoria Monarch Beach.
Foreign Buyers Return
Demand for coastal properties in Orange County remains strong from both local and foreign buyers, Thompson noted.
Interest from buyers outside the country waned over the past four years, brokers note, but there has been a pickup in volume in recent months.
The sale of 51 Strand Beach Drive is a sign of proof of that return.
“In May and June, we saw overwhelming activity from foreign buyers,” Thompson said.
“Four of my last eight transactions have been with a foreign buyer.”
The Dana Point sale is the second priciest on-record for Orange County year-to-date, trailing a $34 million sale of a nearly 9,650-square-foot home in Newport Beach’s Pelican Crest neighborhood, which closed in April.
John Cain of Pacific Sotheby’s International Realty represented the sellers of 1 Shoreridge.
