A modern bayfront home on Lido Isle recently sold for $21 million, a price that’s unusually high on a price-per-square-foot basis.
The buyer bought the 3,900-square-foot home with 40 feet of water frontage on July 26 for $1.5 million less than the asking price – the home at 820 Via Lido Nord in Newport Beach hit the market on May 21 for $22.5 million, or $5,625 per square foot, according to the seller’s agent.
Jon Flagg of Flagg Real Estate helped close the deal for $21 million, or $5,250 per square foot, for the undisclosed buyer.
Ryan Tarr, the agent who listed the home on behalf of the undisclosed seller with Stanfield Real Estate, said the high price-per-square-foot sale was due to the home’s specific location on Lido Isle. The property at 820 Via Lido Nord offers wide views of the water and, at 40 feet of frontage, is on the high end of single lots.
Tarr added homes on the 800 and 900 stretch of Via Lido Nord often demand higher sales prices, mostly because of their respective locations at Newport Harbor’s turning basin and views of nearby Fashion Island.
The home at 820 Via Lido Nord was also completely renovated, per Tarr.
Flagg said the seller came out ahead and made some money on the deal.
“The seller did well. Homes like this rarely come up on the island,” Flagg told the Business Journal.
The 3-bedroom and 4-bathroom house sits on one of Newport Harbor’s many residential-themed islands and offers anyone who lives here views of the main turning basin, where local boaters change course and turn around while navigating their vessels.
The house, which was on the market for about two months, also includes a custom boat dock with a berthing capacity for a vessel up to 60 feet long.
The seller of 820 Via Lido Nord didn’t move far. He is also the buyer of 309 Via Lido Soud, according to people knowledgable about Lido Isle real estate. That home traded for $30 million, according to previous Business Journal reporting.
Amenities at Home
Newport Harbor is the largest recreational harbor on the West Coast, capable of accommodating 9,000 vessels. A few notable personalities who live on Lido Isle include Craig Atkins, Bob Olson, Roger Penske, Jr. and Palmer Luckey.
Other amenities at 820 Via Lido Nord include a three-car garage and a wired Sonos sound system.
A nearby home at 808 Via Lido Nord sold for $18.9 million in 2018 – nearly $2 million less than the asking price – according to Zillow.
