An oceanfront home in the Laguna Beach enclave of Emerald Bay has quietly sold for $110 million, the highest price in Orange County history.<\/p>\n
It\u2019s a market-shattering deal \u2014 one that redefines what a house can sell for in Orange County, which features a higher median home price than L.A. County but has never quite reached the dizzying nine-figure numbers of communities such as Beverly Hills or Malibu. The previous high belonged to another Laguna Beach property that traded hands for $70 million<\/a> in 2021.<\/p>\n The reason for the exorbitant price tag? It\u2019s perhaps the most private home on one of the few private beaches in California.<\/p>\n Under law, California beaches are supposed to be public. But Emerald Bay is gate-guarded, accessible only to residents, and its half-mile stretch of golden sand is bordered by the cliffs of two jutting points, geographically cutting off public access via other beaches.<\/p>\n \u201cIt\u2019s a one-of-one location,\u201d said John Stanaland of the Agency, who handled both ends of the deal.<\/p>\n Stanaland said the steep lot itself would sell for $40 million to $50 million. Add in a building cost of roughly $5,000 per square foot across roughly 10,000 square feet, and the price makes sense.<\/p>\n The house never officially hit the market, so details are scarce. The last time the property surfaced for sale was in 2012, when it hit the market as an empty lot asking $35 million<\/a>.<\/p>\n Aerial photos show that the contemporary-style home is five stories, with four levels of balconies and a pool overlooking the beach below. It was built in 2021 by a developer as a family home, Stanaland said.<\/p>\n The identities of the buyer and seller are unclear. Property records show it was sold by a limited liability company called Faith 5 and bought by a limited liability company called Dlareme \u2014 \u201cemerald\u201d backward.<\/p>\n Stanaland told the Real Deal<\/a>, which first reported the sale, that both the buyer and seller are \u201chighly sophisticated.\u201d<\/p>\n Laguna Beach has come a long way from its roots as a bohemian artists colony in the late 1800s and early 1900s, when painters such as Isaac Frazee flocked there to sketch pastels of its seaside cliffs and rolling surf. Today, the resort city consistently ranks as one of the most expensive in Southern California with a median home price<\/a> of more than $3 million.<\/p>\n \u201cGrowing up here, it was an eclectic, artsy, laid-back town,\u201d said Stanaland, who\u2019s been selling in the area for 30 years. \u201cThe Montage [hotel] opened in the early 2000s, and that changed the dynamic of the community. We saw more money coming in and more notoriety.\u201d<\/p>\n It\u2019s unclear whether the record-setting sale is a one-time price for a one-of-a-kind property, or whether it marks a wealth migration<\/a> from L.A. to Orange County. The luxury market typically tops out in the $30-million to $40-million range in Orange County, though some properties are aiming higher, including a San Juan Capistrano ranch asking $85 million<\/a> and an 11,500-square-foot mansion in Newport Coast listed for $68 million<\/a>.<\/p>\n \u201cI think you\u2019re going to see more and more sales like this,\u201d Stanaland said. \u201cBuyers from around the country \u2014 especially Texas, Vegas, Arizona and L.A. \u2014 are homing in on Orange County.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"An oceanfront home in the Laguna Beach enclave of Emerald Bay has quietly sold for $110 million, the…\n","protected":false},"author":2,"featured_media":372835,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[59769,7,35531,9,8,23092,85794,151031,151027,8161,151028,151029,5990,151030,111205,7215,5589,75990],"class_list":["post-372834","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-buyer","tag-california","tag-california-beach","tag-california-headlines","tag-california-news","tag-cliff","tag-emerald-bay","tag-high-median-home-price","tag-john-stanaland","tag-l-a-county","tag-laguna-beach-mansion","tag-limited-liability-company","tag-market","tag-market-shattering-deal","tag-orange-county-history","tag-property","tag-sale","tag-seller"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/372834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=372834"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/372834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/372835"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=372834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=372834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=372834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}