An Exquisite Newport Beach Residence on the Waterfront of Guard-Gated Harbor Island Reduces its Asking Price to $64 Million, Providing an Opportunity for Discerning Buyers
Despite receiving multiple offers that unfortunately did not meet the sellers’ expectations, they have decided to adjust their asking price to better align with the current market conditions. Steve High, the co-listing agent from Coldwell Banker, explains this strategic move.
This remarkable prewar home spans 3,600 square feet and boasts six bedrooms, five bathrooms, and an enchanting inner courtyard. Situated in one of the most coveted locations in Orange County, there are only seven homes listed at over $50 million, and this property is among them. The neighboring properties in Newport Beach are equally impressive, with a grand Crystal Cove estate commanding a price tag of $69.8 million. However, the second most expensive property for sale tells a story that spans nine decades.
Constructed in 1937, this extraordinary home boasts one of the last remaining double-lot parcels in the exclusive island enclave. The breathtaking views it offers are unrivaled, making it a truly exceptional investment.
Upon arrival, guests are greeted by majestic eucalyptus trees surrounding the property. The front of the residence showcases a splendid brick terrace with a vast lawn and an impressive 100 feet of frontage, creating an atmosphere of grandeur.
Adding to its allure, an exclusive private dock is available to accommodate multiple yachts, enhancing the property’s appeal to boating enthusiasts.
Selling for only the third time since 1951, this household has remained within the same family for three generations. Rob Giem from Compass, who joined forces with Steve High and Evan Corkett of Coldwell Banker Realty to represent the listing, commented on the remarkable rarity of such an achievement in this highly sought-after waterfront neighborhood. When the property first debuted on the market in July, it was priced at $74 million.
Seller Leslie Shattuck revealed to the Wall Street Journal that the house had originally belonged to her grandparents and was later passed down to her parents. After her mother’s passing in May, Leslie and her two siblings inherited the estate but decided to part with it.
Although the family has dutifully maintained the property, the listing suggests that the prospective buyer may opt to undertake a restoration, expansion, or reimagination of the home, following in the footsteps of other neighbors who have transformed their residences.
Steve High aptly describes this property as “the last undeveloped parcel of its kind on the south side of the island,” emphasizing its uniqueness and potential.
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