Newport Coast mansion with $55M price tag joins OC’s ascending trend

More price tags rivaling Bel-Air and Malibu numbers have appeared on the market in Orange County, with 28 Tide Watch in Newport Coast debuting as one of that county’s most expensive listings.

At $55 million, the 11,000-square-foot home at 28 Tide Watch ranks among Orange County’s top five priciest homes. Most of the priciest listings are neighbors in Newport Coast, an enclave of Newport Beach which also is the address of The Resort at Pelican Hill and neighboring Crystal Cove State Park.

Priciest homes in Orange County include the Newport Coast addresses of 6 Midsummer, asking $70 million and listed by Rex McKown and Marcy Weinstein of Compass. At around $60 million are 46 Deep Sea, listed by Garrett Weston of Coldwell Banker Realty, and 31 High Water represented by McKown and Weinstein. Another pricey home is 7 Strand Beach Drive, located in the neighboring town of Dana Point. It is listed for $55 million by Arlen Raubach of Compass.

Top-priced homes have found buyers in the past, but in the current market so far this year the biggest sales have hovered in the mid-to-low $30 million range. A 12,000-square-foot home at 1 Shoreridge sold in April for $34 million, which was a Newport Coast record, according to media reports. In January, another Newport Coast listing, 1 Pelican Crest Drive, sold for $30.6 million.

For comparison, last October reality TV stars Heather and Terry Dubrow sold their Chateau Dubrow mansion for $55 million. The Orange County record was set in 2021 when hedge fund manager Joseph Edelman paid $70 million for a Laguna Beach mansion.

Orange County’s coastal areas have long been considered luxury real estate markets, and in recent years a number of high-profile agents active in Malibu and Beverly Hills such as The Altman Brothers and Oppenheim Group have opened offices in the Newport Beach area.

28 Tide Watch is situated on more than a half-acre with views of Crystal Cove State Park. It also features a pool, an area with a pizza oven and a fire pit. 

The mansion is owned by businessman Medhat Attalla. He bought the property for $2.2 million in 2016 when it was a vacant lot. The current home was constructed in 2019.  The listing agent is Weston of Coldwell Banker Realty.

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