Updated Sep 11, 2026
Newport Coast Mansion Sells For Record-Setting $34M In Single Family Sale
1 Shoreridge, Newport Coast, CA 92657, USA
$34,000,000
$2,833/SF
Building Size
12,000 SF
Asset Type
Single Family Residence
Closing
May 9, 2023
About this deal
AI
A recently renovated mansion in Newport Beach's Newport Coast has been sold for a record-setting price of $34 million. The spacious estate measures 12,000 square feet and is located at 1 Shoreridge Drive. It features six bedrooms, eight bathrooms, and a stunning infinity pool. This luxurious property was purchased and renovated by an unidentified seller who relocated to California during the pandemic.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $34,000,000
- Address: 1 Shoreridge Drive
- Market: Newport Coast
- Square Footage: 12,000
- Price per Square Foot: $2,833
Leading the deal were Paul Daftarian from Luxe Real Estate and Abraham Lim from Circa Properties. They represented the buyer and seller, ensuring a successful transaction for both parties involved.
Players
Los Angeles Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.8K per square foot on a published $34M for 12,000 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93