The rich might be different, as the Great Gatsby tells us — but their real estate is really different.
Take Orange County’s high-end market, which is generally gathered along the coast, with Dana Point, Laguna Beach and Newport Beach as luxury locales. Eye-popping prices are nothing new in those towns, but a recent one stood out for its price per square foot, the Orange County Business Journal reported.
The deal came in the heart of OC’s luxury landscape on Lido Isle in Newport Harbor, where a 3,900-square-foot home recently sold for $21 million — or $5,250 per square foot, about three times the average citywide.
The deal for 820 Via Lido Nord — with the buyer and seller undisclosed — had a number of luxe factors that give values a boost over otherwise comparable properties on the exclusive island, which is one of eight in Newport Harbor and has 800 homes. The property offers broad views of the water because of its location at the harbor’s turning basin, with views of the Fashion Island retail and office center. Another key to the big price per square foot is 40 feet of water frontage, with a custom boat dock with capacity for a yacht up to 60 feet long.
The property has recently been fully renovated with modern amenities, according to listing agent Ryan Tarr of Stanfield Real Estate.
The three-bedroom, four-bath house with a three-car garage first hit the market in May with a price tag of $22.5 million — although the eventual price cut doesn’t seem to trim the sails of the seller, who is moving to the other side of the island after buying 309 Via Lido Soud for $30 million, citing “people knowledgeable about Lido real estate.”