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Newport Beach Luxury Home Sells for $25.5 Million

A breathtaking view of a luxurious bayfront home sold for $25.5 million in Newport Beach.

News Summary

A luxurious bayfront home in Newport Beach has recently sold for $25.5 million, signaling a rise in demand for high-end properties in the area after the LA wildfires. With expansive living space, seven bedrooms, and a private dock, this sale reflects shifting trends in the Orange County housing market as families displaced by the fires seek new homes. The property, completed in 1990, offers upscale amenities and a prime location, boosting interest in Newport Beach real estate amidst ongoing challenges.

Newport Beach Luxury Home Sells for $25.5 Million Amid Rising Demand Following LA Wildfires

A stunning bayfront home in Newport Beach has recently sold for $25.5 million, reflecting a growing interest in luxury properties in the area, particularly in the wake of the Los Angeles County wildfires. The luxurious residence, situated on a prime double lot, highlights the changing landscape of the Orange County housing market, as families displaced by the wildfires seek new homes.

The property, which was completed in 1990, showcases a custom, contemporary design and offers an expansive 6,319 square feet of living space. Inside, the home features seven bedrooms and nine bathrooms, along with an almost 60 feet of bay frontage that includes a private dock suitable for an 80-foot vessel.

Property Features

Accessed via a gated entrance, the home boasts an extensive pool and spa area. Upon entering, double-glass doors lead guests into a grand foyer highlighted by a curved staircase. The spacious great room is outfitted with a cozy fireplace, a sit-down bar, and a formal dining area complete with a built-in hutch. This area is further enhanced by rows of floor-to-ceiling windows that provide captivating views of the harbor.

The gourmet kitchen is designed for culinary enthusiasts, featuring black granite countertops, high-end appliances, and a distinctive patterned ceiling. In addition, a central island with a gas cooktop and a breakfast nook overlooking the pool delivers convenience and style. Adjacent to the kitchen, there is a den that could serve as an office space.

The luxurious primary suite can be accessed via stairs or an elevator, featuring two bathrooms and two walk-in closets to accommodate relaxation and storage. An oversized guest suite also includes a bathroom and walk-in closet, with access to a covered balcony overlooking the picturesque harbor. Additional amenities include an oversized three-car garage, enhancing the overall convenience of the property.

Historical Ownership

The home’s city permits trace back to April 1965, with county records indicating previous ownership by Las Vegas residents, Joyce and Jerome D. “Jerry” Mack. Jerome Mack was a notable figure who co-founded a bank that financed development on the Las Vegas Strip before it was later acquired by Bank of America. Following his passing, the ownership trust was passed to their daughter, Karen Mack, in March 1999.

Local Market Impact

The sale comes at a time of rising demand for luxury real estate in Orange County, spurred by the recent wildfires that affected numerous families in Los Angeles County. Realtors have observed a marked increase in inquiries and property showings in Newport Beach, with many potential buyers actively seeking homes in the area as they navigate the aftermath of the fires.

Realtors have noted a significant surge in interest in properties such as a five-bedroom home in Newport Beach’s Port Streets neighborhood, which is currently listed at $19,500 per month. The escalating interest in the Newport Beach housing market signals not just local shifts, but also broader trends influenced by recent events in nearby regions.

The combination of upscale luxury living and rising property demand places Newport Beach at the forefront of the real estate market, emphasizing the need for adaptable housing solutions amidst ongoing challenges. As families continue to seek new homes in the aftermath of the wildfires, the future of Newport Beach’s real estate landscape remains optimistic, with potential for further growth and development.