Luxury Home Sells for $20 Million in Corona del Mar

Categories: Business NewsNewsReal Estate & Properties

This luxurious home sold for $20 million in Corona del Mar, boasting modern amenities and breathtaking ocean views.

News Summary

A spectacular home in Corona del Mar has sold for $20 million, showcasing the vibrant luxury real estate market in Orange County. The property, located at 1615 Bayadere Terrace, offers 5,741 square feet of living space, four bedrooms, and breathtaking ocean views. With unique amenities such as a pool, home gym, and close proximity to a golf course, luxury living is at its finest. As the market continues to thrive, the allure of coastal properties in Orange County remains strong.

Luxury Living: The $20 Million Home in Corona del Mar

In the beautiful coastal city of Corona del Mar, a stunning home has just sold for a whopping $20 million, making a big splash in Orange County’s real estate market. This lovely property, perched at 1615 Bayadere Terrace, offers an impressive 5,741 square feet of living space and sits on a generous 0.44-acre lot. It’s not just any house; it was built in 1958 and has been updated with modern amenities fit for a luxurious lifestyle.

A Closer Look at the Property

The layout features four spacious bedrooms and 4.5 bathrooms, providing ample room for families or guests. The interior is packed with features that today’s buyers dream about, including a cozy dry bar for entertaining, a home gym to stay fit, and an outdoor grill area perfect for summer barbecues. A sparkling pool invites you to take a dip, and for car enthusiasts, there’s a three-car garage.

One of the standout features of this property is the gorgeous ocean view. Just imagine waking up to the soothing sound of waves and breathtaking sunrises every day! Plus, the location is convenient for golf lovers due to its proximity to a nearby golf course. Talk about a slice of paradise!

Market Movements

$22 million, selling for about 9% less than that. This isn’t an unusual trend; the luxury real estate market in Orange County is off to a strong start this year. Despite fluctuating prices, many homeowners are choosing to hold onto their properties, thanks to low mortgage rates hovering around 2% or 3%. This situation has caused buyers to zoom in on “special properties” that stand out.

Bayadere Terrace is one of the most coveted streets in Corona del Mar, and with such a prime location, it’s easy to see why properties here are in high demand. In fact, recent sales in the area include an impressive six-bedroom, nine-bathroom estate that went for a record-setting $26 million! It’s clear that the luxury market is alive and thriving.

Exciting Developments in the area

Furthermore, the property landscape around Newport Beach is seeing a surge in proposals for apartment buildings, with numerous office-to-residential conversion projects under consideration. It’s a clear indication that areas around here are adapting and evolving to meet the demand for modern living solutions.

All in all, this recent sale in Corona del Mar highlights not just a significant transaction but also points to continual trends in luxury real estate in Orange County. As buyers and sellers navigate this competitive environment together, one thing remains clear: the allure of coastal living is as strong as ever!