A home in Corona del Mar with views of Newport Harbor that was listed two years ago for $32.9 million has traded for just over half that price at $17.8 million.
After months of negotiations, the nearly 6,800-square-foot house was sold at 1409 Dolphin Terrace, in the Irvine Terrace neighborhood, the Orange County Business Journal reported. The buyer and the seller weren’t disclosed.
The buyer was represented by broker Giselle Shahbazi of Coldwell Banker Global Luxury. The seller was represented by brokers Hanna Karcho-Polselli and Remo Polselli of Luxury Fine Homes.
The two-story home on a nearly half-acre double lot last traded in January 2024 for $11.6 million, two decades after it had sold for $6.3 million.
Four months later, its new owners tried to flip it for $32.9 million, according to Redfin, before ratcheting down the price to $22.9 million in February.
“The sellers came high,” Shahbazi told the outlet. “They priced it high because of the uniqueness, because it is one of a kind. But obviously, the market is not there.”
The bleach-white house, built in 1995, has five bedrooms and seven bathrooms and features an open layout, gourmet kitchen and a pool and spa. It has a three-car garage, and 125 feet of open frontage overlooking the harbor and Pacific Ocean.
Irvine Terrace, a Newport Beach neighborhood of Corona del Mar on the Harbor side of Pacific Coast Highway, has 390 homes built in the 1950s between Corona del Mar Village, Balboa Island, Fashion Island and local beaches, Shahbazi said.
In April 2025, a 5,740-square-foot home at 1615 Bayadere Terrace in Irvine Terrace sold for nearly $20 million, a local record. The deal beat the previous record, when 1301 Dolphin Terrace sold in 2022 for $19.5 million.
The priciest sale in Corona del Mar last year was a bayfront mansion large enough to park a 100-foot yacht that sold at 2201 Bayside Drive sold for $26 million.
The record holder for the priciest home in Corona Del Mar belongs to a former mansion at 401 Avocado Avenue known as the Big Blue House, owned by an Irvine family heir, according to The Real Deal. In 2017, the home sold for $35 million, and was demolished three years later.
– Dana Bartholomew
Read more
Residential
Los Angeles
Corona del Mar mansion sells for $26M, year’s priciest sale
Residential
Los Angeles
Corona del Mar resi market sees another record: “people pay for perfect”
Residential
Los Angeles
Billionaire Paul Merage lists Newport Coast mansion for $40M