Former Piece of Irvine Ranch Hits Market for $20M

A Crescent Bay property in Laguna Beach that’s been traded only a handful of times since the 19th century has made its way onto the market.

The property at 245 Crescent Bay Drive is listed for just under $20 million after the estate tied to long-time owners James and Martha Newkirk decided to sell. The couple had owned the property since 1979.

Compass’ Annie Clougherty and Mike Johnson hold the listing.

Former Piece of Irvine Ranch Hits Market for $20M — 245 Crescent Bay Drive (Colin Horan)

James Newkirk graduated from California Polytechnic State University of San Luis Obispo with a bachelor’s degree in social sciences in 1962, teaching and investing in real estate. He founded Newkirk Enterprises, an owner of apartment buildings in Southern California.

The Newkirks are known locally for their philanthropy having donated to the University of California, Irvine; Orange Coast College; and Hoag Hospital.

Chateau du Soleil, as the home is known, has three beds and five baths. It totals 6,908 square feet, looking out onto the beach and ocean. The home has gardens, a driveway and room for three cars across two garages.

Whomever moves in will have a home sitting across from Los Angeles Times’ billionaire owner Patrick Soon-Shiong, who snapped up a blufftop estate in 2016 for $45 million.

Johnson underscored the home’s “place in Laguna Beach history,” pointing to aviator Florence Lowe “Pancho” Barnes often landing her planes near where the property sits in the 1920s. Barnes founded the Associated Motion Picture Stunt Pilots union, the first for the trade, and broke Amelia Earhart’s air speed record in 1930.

The home sits on property once part of Irvine Ranch, which was created from Mexican and Spanish land grants in 1864. Irvine Ranch later became the Irvine Company when the land was incorporated in 1894.

The just-listed property was later sold by the Irvine family to the McKnight family in 1905. L.C. McKnight and Howard Heisler, along with Ferdinand Thum and his brother William Thum, are credited with the development of Laguna Beach starting with the creation of the Laguna Cliffs neighborhood.