realestate

Newport Beach House Sets Record: Highest Per-Square-Foot Sale

Discover the opulent world of Orange County's high-end real estate market, where Dana Point, Laguna Beach, and Newport Beach reign supreme as luxury hotspots.

T
he wealthy are indeed unique, as F. Scott Fitzgerald so eloquently put it in his novel "The Great Gatsby." And when it comes to real estate, they truly stand out. In Orange County's high-end market, luxury properties are scattered along the coast, particularly in Dana Point, Laguna Beach, and Newport Beach. These towns are known for their eye-popping prices, but a recent sale in Newport Harbor's Lido Isle truly took everyone by surprise.

    The Orange County Business Journal reported on a deal that happened in the heart of OC's luxury landscape. A stunning 3,900-square-foot home on 820 Via Lido Nord in Newport Beach was sold for a whopping $21 million, which translates to $5,250 per square foot. This is approximately three times the average price per square foot in the city.

    The property's location at the harbor's turning basin provides residents with breathtaking views of the water. Additionally, the property boasts a custom boat dock capable of accommodating a yacht up to 60 feet long, adding significant value to the property.

    The property has been recently renovated with modern amenities, according to listing agent Ryan Tarr of Stanfield Real Estate. It features three bedrooms and four bathrooms, along with a spacious three-car garage.

    The property first hit the market in May with a price tag of $22.5 million. Despite the eventual price cut, the seller seems undeterred, having purchased a property on the other side of the island for $30 million. This move was reportedly motivated by the seller's desire to be closer to people who are knowledgeable about Lido real estate.

Multi-million dollar Newport Beach house sold for record-breaking per-square-foot price in California.