A couple from London purchased an ocean-view home in Corona del Mar that they had missed out on buying a few years ago.
They purchased the home, located at 1709 Galatea Terrace in Irvine Terrace, for $5.2 million.
Jon Dishon, an agent with Newport Beach-based HÔM Sotheby’s International Realty, represented the couple, who have two young children. The buyer owns a liquor distributionship in London.
Susie Safford, an agent with Coldwell Banker Previews International in Newport Beach, represented the sellers, a hedge fund investor and his wife.
The all-cash deal wouldn’t have happened without another house becoming available at the same time—a two-level Cape Cod home at 117 Ruby Ave. on Balboa Island in Newport Beach. That’s where the seller moved.
Dishon originally met the Londoners at an open house for another one of his listings, but they weren’t serious about that home and were particular about what they wanted.
“They really wanted something with a view,” he said.
They wanted 1709 Galatea Terrace. The couple from London had seen the 4,200-square-foot, three-bedroom home when it was for sale a while back.
Dishon said he’d let them know if it ever came available.
He then called Safford, who represented the owners of the Galatea home when they bought it a few years back. Dishon told her he had a cash-ready buyer if the owner ever decided to sell.
The couple at 1709 Galatea had been thinking of moving back to Balboa Island. They had lived on Balboa Island for many years and they had friends there, Dishon said.
Dishon said Safford’s clients had their eye on 117 Ruby, which Dishon was about to list. They needed an elevator and the property featured one—unusual for Balboa Island.
The couple purchased the Balboa property for its $3.2 million asking price.
The London couple then flew out and bought the Galatea property for close to its list price. They purchased it as a second home.
The couple already had Newport Beach ties prior to the purchase: The wife is from California, and her parents have a home in the Pelican Crest in Newport Coast.
The husband is an avid sailor, and he is a member of the Balboa Bay Yacht Club in Newport Beach, Dishon said.
In the new home, he can use a golf cart to drive down to the yacht club.
Recent Sales
July closings, based on Redfin.com’s listings:
• 168 Emerald Bay in Laguna Beach sold for $16 million, down from $19.9 million in November 2011.
The July sale was followed by a markdown from $18.9 million this past March.
Harold Noriega, an agent with HÔM Sotheby’s International Realty, represented the seller.
Rod Daley, an agent with Coldwell Banker Previews International, represented the buyer.
The 5,750-square-foot oceanfront home has five bedrooms and six bathrooms.
• 2523 Monaco Drive in Laguna Beach sold for $8.2 million, down from $9.7 million in May.
Daley represented the seller. The buyer’s agent wasn’t listed.
The 4,600-square-foot home has four bedrooms and three bathrooms. The home has a tropical feel, modeled after a resort home in Bali.
• 21 Boulder View in Irvine sold for $7.1 million, down from $7.2 million in August 2011.
Chris Valli, an agent with Newport Beach-based Surterre Properties Inc., represented the seller.
Jacqueline Thompson, also of Surterre Properties, represented the buyer.
The three-level in Shady Canyon has five bedrooms and seven baths and features a view of the golf course. It’s roomy, with 10,000 square feet of living space, including a guest suite attached to the home and a separate casita.
• 2315 Pacific Drive in Corona del Mar sold for $6.8 million, down from $7 million.
The home was listed for only a few weeks.
Reggie McNerney, an agent with Coldwell Banker Previews International, represented the seller.
Steven Sergi, an agent with Valia Properties in Corona del Mar, represented the buyer.
The 4,866-square-foot home has four bedrooms and five bathrooms.
• 47 Canyon Creek in Irvine recently sold for $4.5 million, down from $4.7 million in May.
Ron Millar, an agent with HÔM Sotheby’s International Realty, represented the seller.
Connie McKibban, an agent with Prudential California Realty, represented the buyer.
The 7,778-square-foot Santa Barbara-style custom estate is located in Shady Canyon.
It has five bedrooms and five bathrooms.
