A Laguna Beach home has sold for $37.5 million, a large discount from its first ask but still the third-priciest sale in Orange County this year.
The six-bedroom home at 33 Smithcliffs is part of the 20-home Laguna Beach Smithcliffs gated community, according to the Orange County Business Journal. The sale leaves no properties in the enclave on the market.
The buyer bought all of the furniture in the home as well, along with some art, adding $2 million to the sales price.
The property hit the market in July asking $48.9 million. The sellers bought it in 2017 for $12.5 million and undertook an extensive renovation, essentially replacing half of the house.
The 1998-built house now totals about 10,000 square feet. Amenities include a gym, library, elevator, wine cellar, and a six-car garage. The main suite includes a master bath with a steam shower and heated floors, as well as dual walk-in closets.
It sits on about half an acre on a bluff, offering expansive views over the Pacific Ocean as far as Catalina Island. The rear of the home opens via several rooms through large floor-to-ceiling glass doors to the backyard, featuring lounge space and the pool area. There is also a small lawn at the edge of the property.
Cliffside land is a premium across Southern California. Laguna Beach in particular is well known for its coves, dramatic cliffs and beaches — one reason why the buyer chose 33 Smithcliffs over properties in tony Crystal Cove.
The buyer of 33 Smithcliffs “wanted to buy an estate on a bluff, which doesn’t exist in Crystal Cove,” selling agent Paul Daftarian of the Daftarian Group said.
Laguna Beach saw Orange County’s priciest sale of the year earlier last week when hedge funder Joseph Edelman bought a cliffside home in the city for $70 million. The second-priciest sale of the year was an off-market transaction for $41 million in Crystal Cove.
Nearly four acres of land in Laguna Beach listed earlier this year for $46.5 million, but has yet to sell.
[OCBJ] — Dennis Lynch