Mediterranean-Style Mansion With Ocean Views in Southern California Lists for $60 Million Just Month
Time：2024-08-01 Click：
A sale on the new construction closed in May for $38 million, the priciest home deal in Orange County this year
BY CASEY FARMER Follow
| ORIGINALLY PUBLISHED ON JULY 31, 2024 | MANSION GLOBAL
The newly constructed home spans more than 18,000 square feet.
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A newly built mansion in California’s Orange County that officially sold in May is back on the market, now with a $60 million price tag—$22 million more than the seller bought it for.
Located in Newport Coast, the house officially closed in May for $38 million to a limited liability company tied to a Las Vegas-based venture capitalist and real estate investor, property records show. He could not be reached for comment.
Though the sale entered records two months ago, the seller made an agreement with the builder to buy it in early 2022 during the early stages of construction, but the sale couldn’t close until the house was completed, said listing agent John Cain of Pacific Sotheby’s International Realty.
The home is in Newport Coast’s exclusive Crystal Cove neighborhood.
Bowman Group/Tyler Bowman
“Although that price was negotiated two and a half years ago, it couldn’t materialize because the house was [still] being built,” he said. Luxury prices in Orange County have since continued to climb. For instance, the county’s biggest city, Anaheim, has seen an 8% increase in the median luxury home price over the past year, according to second-quarter data from Redfin.
The early-construction agreement was beneficial to both the developer and the now-seller: It secured a sale for the builder at the beginning of rate hikes and market uncertainty and a below-market price for the now-seller. Cain said new construction homes with ocean views in the Crystal Cove neighborhood typically sell for $3,000 to $6,000 per square foot.
The $38 million deal is the highest home sale in Orange County this year, and it returned to the market on Monday as the fourth-most expensive home listing in the county.
There are sweeping ocean views.
Bowman Group/Tyler Bowman
Spanning more than 18,000 square feet, the Mediterranean-style mansion is perched on about three-quarters of an acre and looks out at the ocean below.
Designed with modern interiors, the main level features a two-story foyer; a formal living room and study outfitted with custom built-ins and Calacatta Borghini marble fireplaces; a three-story chandelier encased by a floating staircase. The chef’s kitchen has white oak cabinets, marble countertops and a secondary caterer’s kitchen.
There are six bedrooms and 12 bathrooms, with an upper-level primary suite that includes a balcony, motorized shades, dual bathrooms and dual walk-in closets.
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The main-level great room has motorized pocket doors that open out to the pool area, an outdoor kitchen and a California room, which has ceiling heaters and speakers. Outside, there are also covered seating areas, a fireplace and landscaped grounds.
“While the area’s luxury homes typically offer high-end amenities and stunning views, this estate’s location, lot size, design and modern technology take it to a whole new level,” Cain said in a separate statement.
Other amenities include a gym with a sauna, cold plunge and steam shower; a home theater; a wine bar with a temperature-controlled wine closet and a 10-car subterranean garage.
The home is located in the neighborhood of Crystal Cove, which has guard-gated security, a residents-only club and direct beach access. In addition to the beach, Crystal Cove State Park also has backcountry areas with hiking trails.
