Quarter-acre lot in Corona del Mar trades for $9M

A slice of dirt with ocean views in Newport Beach just sold for $800 per square foot, a local record.

An undisclosed buyer bought the quarter-acre lot at 4539 Camden Drive in the Corona del Mar neighborhood for $9 million, the Orange County Business Journal reported. 

It’s the priciest deal on record for a lot in Corona del Mar and the fifth priciest for the region, according to Zillow. The sales record was $6.3 million paid in August for a 7,405-square-foot lot at 2808 Ocean Boulevard, next to Lookout Point.

The fully landscaped parcel in Cameo Shores is in the second row, with an ocean view. At 11,325 square feet, the lot is 50 percent larger than the previous record lot.

Cameo Shores, on the ocean side of Pacific Coast Highway, includes 170 homes with beach access. In October, a double-lot estate with a 6,900-square-foot home listed for $23 million, according to Forbes.

Broker Tara Foster Shapiro of EQTY Forbes Global Properties held the listing. Brokers Michael Balliet and Paul Daftarian of Luxe Real Estate represented the buyer.

It was one of four lots listed for sale in late November, leaving just three lots in Corona del Mar on the market with prices from $3.5 million to $6.5 million, according to brokerage data.

The most expensive listing is a 3,485-square-foot lot at 2516 Ocean Boulevard, near China Cove Beach, at $6.5 million. 

It’s touted as a build-to-suit opportunity with plans for “a Napa Valley Contemporary inspired home by CJ Light and Associates Architecture,” according to the listing by Wayne Smith of Corona del Mar Properties.

A nearly $3.5 million listing by Smith at 604 Narcissus Avenue a mile away spans 3,524 square feet and comes with plans for a new home in the Flower Streets neighborhood.

In Corona Highlands, a 9,213-square-foot lot is listed for $3.8 million. Rob Montgomery of Arbor Real Estate holds the listing.

In May, a nearly 9,000-square-foot home in the Flower Streets north of Little Corona beach listed for $22.5 million. 

— Dana Bartholomew

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