Newport Coast $38M sale marks most pricey resi trade in OC this year

Orange County has recorded its most expensive home sale so far this year: a $38 million trade of a newly developed mansion in Newport Coast.

A trust tied to Las Vegas-based Tony Huang bought 20 Coastline, an 18,300-square-foot home in Crystal Cove, according to property records filed with Orange County. Compass announced the deal on Thursday, but did not disclose the buyer or sellers. 

Rex McKown and Marcy Weinstein at Compass represented the seller in the off-market deal, while Michelle Queyrel Linovitz at Coldwell Banker Realty represented the buyer. 

Thomas and Annette Haigh sold the 0.8-acre site, records show. The two bought the site for $8.5 million, when it was a vacant piece of land, and built the six-bedroom, 10.5-bath home. 

The buyer signed an option to buy the new development in March 2022, records show. The home has a pool, sport court and exercise room, according to MLS data. 

Before this deal, the most expensive deal to close this year across Orange County was 7 Montage Way in Laguna Beach, according to records. Compass’ Mimi Bladow represented the buyer, according to online listings, which records show was Jonathan Caine. 

These pricey trades are boosting the median sales price of luxury homes, according to a report from appraiser Jonathan Miller for Douglas Elliman. 

The median price for homes in the upper 10 percent of sales prices was about $4.4 million in the first quarter, up from $3.7 million in the first quarter of 2023. 

Listings for homes for luxury single-family homes — the upper 10 percent of all sale prices — are also up about 11 percent year-over-year, according to a Miller Samuel report.