Waterfront Home Sells for $25M in Corona Del Mar

A house adjacent to a yacht dock in Corona Del Mar has sold for about $25 million, making it the priciest residence sold in the Newport Beach neighborhood so far this year, according to property records and interviews with Orange County agents.

2201 Bayside Drive spans more than 9,000 square feet. It was sold by two limited partnerships; one is a Texas-based entity, Collcain LP, and the other was Los Angeles-based 2209 Bayside LP, according to property records. 2209 Bayside LP is linked to entrepreneur Greg Cullen of Harvard Investment Group. A description on Redfin said Harvard Investment Group helped design 2201 Bayside Drive, along with Brandon Architects, Patterson Custom Homes and Brooke Wagner Design.

Garrett Weston of Coldwell Banker Realty represented the buyer, whom Weston identified as a local. Brian Furstenfeld, Kayla Cardona, Matthew Peters and Jason Oppenheim of The Oppenheim Group represented the seller.

The three-level home features 50 feet of private beachfront, as well as shared ownership of a more than 250-foot dock where two yachts of up to 100 feet in length can tie up.

The record holder for the priciest home in Corona Del Mar was a mansion nicknamed the Big Blue House, which was owned by an Irvine family heir. Located at 401 Avocado Avenue, Big Blue House sold for $35 million in 2017. It was torn down in 2020, according to media reports.

Jason Oppenheim said there is a chance 2201 Bayside Drive may not hold the neighborhood record for long. Its neighbor, 2209 Bayside Drive, was listed for $32 million in August. Both houses were built by a Cullen-connected entity called Bayside LP. The house at 2209 Bayside previously sold for about $23 million in November 2022.

Weston said that selling prices in Corona Del Mar range from about $1.7 million to $25 million. According to Redfin, a median price for a Corona Del Mar home was $4.9 million in August 2023. The median increased 33 percent compared to August 2022.

In 2021, Weston sold another Corona Del Mar ultraluxe home at 3725 Ocean Boulevard for $24 million. In 2022, he sold 177 Shorecliff Road, also in Corona Del Mar, for $21 million.