A sprawling Newport Coast mansion with sweeping ocean views has sold for nearly $39 million, adding another eye-watering deal to Orange County’s already sizzling luxury-home market. The buyer’s identity remains undisclosed, but the estate’s amenities read like a private resort with a very serious mortgage attached.
The 12,350-square-foot property in Crystal Cove closed Monday for $38.9 million, according to The Real Deal. Michael Fawaz of Compass represented the seller, while Paul Daftarian of the Daftarian Group represented the buyer, whose name was not released.
The home first appeared on the market in January asking $46.5 million before being relisted at $43 million. Fawaz told The Real Deal that more clients are relocating to Newport Coast from Los Angeles and internationally, while inventory in the area remains exceptionally tight.
Inside Crystal Cove’s Double-Lot Estate
Built by PrideMark in 2012, the estate sits on a double lot spanning roughly 1.1 acres and has six bedrooms, 10 bathrooms and a main residence of about 10,500 square feet. The property also includes a detached guest house of nearly 1,900 square feet, according to the home’s Zillow listing…