News Summary
Newport Beach is witnessing a notable increase in luxury real estate sales, driven by new developments and high-profile transactions. A standout listing is a remodeled home in the Bayshores area, now priced at $19.95 million. This two-story property has expanded beyond its original size, featuring upscale amenities and waterfront views. Other recent sales include a home at Port Claridge Place and a significant office building purchase, highlighting continued growth in the community’s luxury market and real estate developments.
Newport Beach is experiencing a surge in its real estate market, with several high-profile luxury sales and new development projects propelling the trend. Among the listings, a contemporary home in the Bayshores area is captured the spotlight, now available for $19.95 million after undergoing significant renovations since its previous sale.
This Bayshores property is a two-story house situated on a 50-foot-wide corner lot directly across from Bayshores Play Beach, an appealing location for potential buyers. The home, which expanded from 3,764 square feet to its current size of 4,292 square feet, includes four bedrooms and five bathrooms. Recently sold in May 2023 for $8.75 million, the updated features enhance both luxury and functionality.
Notable features of the home include an oversized three-car garage, seamless indoor-outdoor living spaces made possible by bi-folding doors, and stunning views of the waterfront. Inside, the home is adorned with wide-plank engineered wood flooring, natural stone surfaces, and an upscale gourmet kitchen equipped with high-end appliances, custom cabinetry, refrigerated wine storage, and double waterfall-edged islands. Additionally, a glass-enclosed wine cellar adds to the home’s charm.
The primary suite offers a spa-inspired bathroom that includes a separate tub and glass-enclosed shower, as well as an oversized boutique-style closet. A view terrace off the primary bedroom, complete with a linear fireplace, provides a cozy outdoor retreat. The second level showcases versatile living spaces, while outdoor amenities include a fire pit and an expansive spa.
This distinctive property is listed by the Daftarian Group at Luxe Real Estate, reflecting the growing appetite for luxury homes in Newport Beach’s Bayshores community, which consists of 249 residences featuring amenities such as two private beaches and boat dock slips.
In addition to the Bayshores home, the Newport Beach real estate market also recently witnessed the sale of a property located at 1991 Port Claridge Place, which sold on July 2 for nearly $10.2 million. This new construction boasts 4,450 square feet of living space, five bedrooms, and 5.5 bathrooms. Built on a 7,475-square-foot lot, it sold for approximately 12% less than its original list price after spending just 24 days on the market. The property features a home office, a saltwater pool, barbecue island, and a complete outdoor entertainment system.
The East Bluff area of Newport Beach remains a vibrant sector of the luxury real estate market, home to nearly two dozen “port” streets where housing prices range from $2.5 million to over $12 million. The Port Streets community features over 1,000 residences, many of which have been updated from their original designs dating back to the 1960s and 70s.
Further adding to Newport Beach’s real estate developments, a 1,300-square-foot retail building at 323 Marine Avenue in Balboa Island sold for $2.2 million. This building, built in 1930 and currently housing Blu Canoe, was previously owned by a Newport Beach family office for over 30 years. The sale was facilitated by representatives from Cushman & Wakefield.
On July 18, a 22,956-square-foot office building located at 1401 Quail Street sold for approximately $16.8 million to Intracorp Homes. With a sale price around $730 per square foot, the office structure was occupied by tenants, including Sunpeak Construction, at the time of the transaction. Intracorp plans to demolish the office building and construct 67 for-sale condominiums with 146 parking spaces, a proposal that received approval from the Newport Beach City Council in April 2024.
These developments highlight Newport Beach’s dynamic luxury real estate market, poised for continued growth as more properties are sold and new plans emerge.
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Additional Resources
- OC Business Journal: Buyer Drops $10.2M for Newport Beach Home
- Wikipedia: Newport Beach, California
- Realtor.com: Heather, Tarek El Moussa’s New Home
- Google Search: Newport Beach real estate market
- Shopping Center Business: Cushman & Wakefield Arranges $2.2 Million Sale
- Google Scholar: Newport Beach real estate
- OC Business Journal: Intracorp Homes Buys Newport Beach Office Building
- Encyclopedia Britannica: Real Estate
- OC Register: $42M Newport Coast Mansion Sale
- Google News: Newport Beach luxury homes
Author: STAFF HERE COSTA MESA
The Costa Mesa Staff Writer represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, performances at the Pacific Amphitheatre, and community gatherings at The LAB Anti-Mall. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Visit Costa Mesa, plus leading businesses in retail, entertainment, and innovation that shape the local economy. As part of the broader HERE network, including HEREAnaheim.com, HERESantaAna.com, HEREHuntingtonBeach.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
