Marilyn Read had a busy June.
The real estate agent, with Coldwell Banker Previews International’s Newport Beach office, represented a buyer and a seller on two transactions in June.
Read represented the buyer on the $4 million sale of 401 Snug Harbor Road in the Newport Heights neighborhood near Newport Harbor High School. And she represented the seller on the $6.1 million sale of 844 Via Lido Nord on Lido Isle in Newport Beach.
A local couple who owns a business based near the airport bought the Snug Harbor home. They had been renters on Lido Isle for two years, and about four months ago started looking for a home to buy, Read said.
They looked at homes in Emerald Bay in Laguna Beach and the Newport Beach neighborhoods of Bayshores and Irvine Terrace before landing in the Newport Heights home.
“It’s a phenomenal home,” Read said.
It’s modern in design and highly automated, with an iPad controlling the home’s electronic systems. It also features a theater and a gym, as well as a wine room and bar.
The buyer met the builder and the architect of the 6,800-square-foot home, which was built last year for the purposes of selling the property. Pamela Ball, an agent with HÔM Sotheby’s International Realty, represented the seller.
Read characterized the transaction as smooth. The home sold close to its January listing price of $4.5 million.
The Lido Isle home was sold by a couple who plan to move into a smaller place in Newport Beach.
“They didn’t want all the upkeep,” Read said. “They wanted to simplify their life.”
The agent also is helping them search for a new home.
The 3,800-square-foot waterfront home on the eastern tip of Lido Isle sold for about $1.4 million less than its original listing price of $7.9 million.
The home has a dock that fits a yacht up to 60 feet long, with room for a smaller boat.
The home is situated on the turning basin where all the boating competitions in the harbor begin.
The sellers built the home for themselves.
It was personalized for a couple, so it needed the right buyer, Read said.
The buyer was a couple from Brentwood. It will be an additional home for them.
Evan Corkett, also an agent with Cold-well Banker Previews, represented the buyer.
$21 Million-Plus
June featured a new eight-figure listing in Corona del Mar.
An 8,000-square-foot home on 1.2 acres at the end of a private lane at 415 Avocado Ave. is listed for $21.7 million.
Rob Smith, an agent with Newport Beach-based Surterre Properties Inc., is the listing agent.
Smith declined to comment on the property at the request of the seller.
The home is situated atop the bluffs and has harbor and ocean views.
The home is close to Corona del Mar Village. Its main selling point is the large amount of land. It’s the second-largest residential property in Corona del Mar by that measure, according to the listing.
Elsewhere among the priciest recent listings: Actor Nicholas Cage’s former home at 2692 Bayshore Drive in Newport Beach, which listed for $28.5 million, had been in escrow late last year. But Robert Giem, the listing agent with Newport Beach-based HÔM Sotheby’s International Realty, said the deal fell through. The would-be buyer, Chinese battery entrepreneur Winston Chung, also fell out of a deal for The Balboa Bay Club and hasn’t been heard from lately.
The home, which sold in 2007 for $35 million, was one of the highest-priced deals in Orange County. Jerry Herbst, owner of Las Vegas casinos and the Terrible Herbst chain of gas station/convenience stores, bought the home in 2008.
Herbst listed the home in 2010 for $31.7 million, and the price was lowered to $28.5 million in 2011. The 8,355-square-foot home is on nearly an acre of prime waterfront in Newport Beach in the exclusive Bayshores neighborhood.
Meantime, the $19.4 million sale of the 12.5-acre Villa del Lago estate at 1 Pelican Hill Road N. in Newport Coast was set to close last week.
HÔM Sotheby’s International’s Giem represented the bank on the sale, which was auctioned in April by Irvine-based Auction.com.
The unfinished mansion had a reduced price of $37 million before its sale. The bank cut off funding to finish the mansion during the recession, which eventually landed the development group, headed by John McMonigle, in bankruptcy. McMonigle is now an agent with Teles Properties Inc.
