The 4,880-square-foot home has four bedrooms, six bathrooms, panoramic ocean and bay views, a wine cellar, sauna, and elevator.
It hit the market in late August for $4.95 million—then the beach in front of it gave way.
Weeks after powerful surf battered the Long Beach Peninsula, 13 residences were red-tagged as unsafe, including Seaside Walk. By mid-October, the home’s asking price had fallen to $2.9 million—a $2.05 million price cut…