Newport Coast Nabs OC’s Priciest 2025 Sale

An estate in Newport Coast’s tony Pelican Crest neighborhood was in the midst of massive construction when it sold this week for $42 million in what is Orange County’s priciest deal so far this year.

The property at 1 Pelican Crest Drive is located minutes from the Resort at Pelican Hill and Pelican Hill Golf Club.

Daftarian Group | Luxe Real Estate’s Paul Daftarian, Michael Balliet and Ruby Xiaoya Wang represented the seller in the off-market deal.

Plus Real Estate Group’s Rob Giem and Garrett Rau represented the mystery buyer. Giem had been with Compass since 2017 before making the jump in January to Plus, which was started in 2024 by ex-Official broker Tyrone McKillen. Giem and Ariana Gaffoglio also hold co-founder titles at Plus.

Giem’s listing of 15 Del Mar still holds the title of priciest-ever deal in Newport Coast, after it sold in 2020 for $61 million. The over 18,000-square-foot mansion in the Crystal Cove neighborhood was bought by LoanDepot founder and executive chair of mortgage originations Anthony Hsieh. Coldwell Banker Realty’s Tim Smith represented Hsieh in his off-market purchase.

Daftarian and Giem declined to provide details on their respective clients in the 1 Pelican Crest deal, citing non-disclosure agreements.

The home was gutted, with plans for a nearly 17,000-square-foot estate, according to Daftarian.

The previous home, built in 2010, was a three-level mansion coming in at nearly 13,500 square feet, according to the Multiple Listing Service. The lot size is nearly 32,000 square feet.

That property last traded in 2023 for $30.6 million, with the mystery buyer snagging a steal, after the home originally hit the market for $45 million in August of 2022. Daftarian and Balliet were also the listing agents at the time of the 2023 sale.

The two, along with Wang, have had a big week with the trio and others in their brokerage double-ending the $24.5 million sale of 4700 Surrey Drive, which was also sold in off-market and is one of Corona del Mar’s priciest deals this year.